The narrative of the gold industry chain is now diverging: upstream enjoys the benefits of gold prices, while downstream focuses on product premiums

As the price of solid gold jewelry approaches 1,500 yuan per gram, the traditional sales model based on weight faces a test of price sensitivity. In contrast, gold jewelry represented by the "fixed price" model, which integrates ancient craftsmanship and cultural empowerment, has become popular among young consumers. From the long queues outside old gold shops to brands like Chow Tai Fook and CHJ following suit by launching fixed-price products, a transformation in consumption from "weight pricing" to "value pricing" is spreading in the gold jewelry market. Meanwhile, upstream companies directly benefit from the rise in gold prices, with profits expected to be fully released. (China Securities Journal)