The brand gold store of "China News" indicates that the upstream gold price has increased by 70 yuan, and the gold bars are temporarily out of stock, "we will talk about it when they are sold out."

According to a report from the Economic Information Daily on the 5th, the mainland recently announced new regulations on gold taxation. Sales of gold purchased from the Shanghai Gold Exchange and the Shanghai Futures Exchange will no longer enjoy value-added tax deductions, which is expected to increase the selling cost for jewelry gold retailers by about 7%. The new regulations have attracted widespread attention, with reports claiming that some merchants quickly removed gold bars from their shelves, and that some brand gold bars are priced over 1,200 yuan (RMB, the same below), more expensive than gold jewelry. However, a reporter from the Southern Daily found on the 4th that after visiting gold stores such as CHOW TAI FOOK (01929), Luk Fook Jewellery (00590), and LFX (Shanghai: 600612), most gold stores are still selling investment gold beans and gold bars normally, and prices have not significantly increased.

Among them, the price per gram for investment gold bars at CHOW TAI FOOK and LFX is 1,170 yuan, while Luk Fook's investment gold bar price is 1,168 yuan, all below 1,200 yuan. However, LFX has seen a situation where small gold beans of lower weight are more expensive than gold bars, with a 1-gram gold bean priced at 1,202 yuan. The report cited a person in charge of a brand gold store who revealed that the upstream gold price has already increased by 70 yuan, with the purchase price rising from the original 900 yuan to 970 yuan, thus suspending the purchasing plan. This person also stated that they have not yet passed on the increased costs to consumers, and that investment gold bars will be "sold out before making further decisions."

Dai Chongye, the business department manager of the old Guangzhou department store Dongshan Department Store, stated that the new policy has less impact on jewelry gold, but sales of investment gold bars are in a "window period," requiring an assessment of market reactions. During this period, Dongshan Department Store is taking the opportunity to digest previous backlog orders, stating that "orders that have not been shipped will be delivered at the original order price, but new orders will not be accepted for now," and currently, there has been no noticeable increase in purchases by citizens due to the new policy. However, Dai Chongye pointed out that upstream prices have already risen, and correspondingly, downstream entities will reflect this in their prices. (sl)