Multiple brands confirm fixed-price gold jewelry price increase
On September 29th, it was reported that as international gold prices rise, the price of domestic brand pure gold jewelry has surpassed 1,100 yuan per gram. Major domestic jewelry brands such as CHOW TAI FOOK, CHJ, and CHOW SANG SANG have successively started to increase the prices of their "fixed-price" gold jewelry. A staff member from a CHOW TAI FOOK store in Wuhan confirmed the price increase to reporters. He told reporters that after the National Day holiday, CHOW TAI FOOK's "fixed-price" jewelry will see a price increase of about 20%-30%, but the proportion of products that will increase in price and which specific items are still to be determined. Staff from Longfeng Jewelry and Lao Feng Xiang stated that they have not yet received any notification of a price increase. A staff member from Longfeng Jewelry mentioned that their fixed-price products have not increased in price this year, and if they do not change the price, buying them is similar to buying by weight. A staff member from Lao Feng Xiang stated, "This year, gold prices have risen significantly, and the discount on fixed-price items cannot be set too low, so it is very cost-effective to buy fixed-price jewelry before the price increases." The aforementioned CHOW TAI FOOK staff member also mentioned that since fixed-price exchanges are based on weight, the current high selling price means a high gold exchange value, and there are many people rushing to exchange gold. Since September, international gold prices have continued to rise, with a cumulative increase of about 9% so far this year, exceeding 40%. According to Wind data, on September 23rd local time, international gold prices first broke through the $3,800 mark, with COMEX gold futures prices once reaching $3,824.60 per ounce, closing at $3,796.9 per ounce on that day
