Inquiries about gold jewelry prices and promotions are becoming increasingly common at retail counters as the Lunar New Year approaches. Stores are bustling with activity, reflecting a growing consumer fondness for gold across China.

The price of gold has been on a volatile upward trajectory, rising from approximately $2,650 per ounce at the start of 2025 to close at $5,042 per ounce for spot gold by February 13, 2026.

Recent observations at multiple gold brand stores in Guangzhou reveal a significant shift: consumers from the post-95 and post-00 generations are becoming the primary drivers of gold consumption. This has led to a surge in demand for lightweight, IP-themed, and occasion-specific products, with small-weight gold jewelry accounting for a notably larger share of sales. Zodiac pendants, co-branded items, ancient-method gold pieces, and gold nail art have become popular mediums for young consumers to express their individuality.

According to reports, small gold ornaments from leading brands like Chow Tai Fok, and even gold bars from established sellers like Laopu Gold, are being used as "premium materials" in nail salons. Some consumers have expressed willingness to spend thousands, or even over ten thousand yuan, to create elaborate "golden armor" nail designs.

A high-end nail salon in Chengdu shared photos and videos of completed gold nail art with an inquiring customer. In one instance, a customer reportedly brought in gold jewelry valued at 40,000 yuan to be cut and applied to her nails, with the service fee alone costing 1,360 yuan. Other salon owners confirmed a noticeable increase in consultations and bookings for this specialized service.

While simple cutting of gold jewelry can be handled by some salons, more complex items like necklaces or earrings often require disassembly at a professional goldsmith before being brought to the nail artist. Many customers use branded pieces from well-known companies such as Lao Miao Gold's floral ear studs or China Gold's butterfly and flower necklaces for this purpose.

Beyond repurposing existing jewelry, some individuals are sourcing small-weight bracelets, earrings, and other accessories from markets like Shenzhen's Shuibei or various lesser-known gold shops specifically to use as "consumables" for nail art.

The sustained rise in gold prices has reinforced positive attitudes toward purchasing and holding gold. Consumers are buying gold jewelry both as festive gifts for relatives and friends, serving as an emotional heirloom, and for personal wear or investment in bars. This trend helps revitalize idle gold jewelry at home, converting it into new purchasing power.

Another observed trend is a sharp increase in gold recycling and trade-in demand. The mindset is shifting from "hoarding gold" to "wearing gold," activating the circulation of existing gold stocks and fostering a circular consumption model.

Store personnel indicate that jewelry currently constitutes about 60% to 70% of recycled gold, while bars make up roughly 30% to 40%. Bar recycling volumes typically spike during periods of rapid price appreciation. For instance, when the international gold price surged from around 970 yuan per gram after the New Year to over 1,200 yuan in just about 20 days, with daily increases of 40-50 yuan, investors often engage in batch trading to balance value preservation with consumption. Despite these spikes, jewelry recycling remains the dominant category.

The festive season has brought a gold buying rush. A recent global gold demand trends report highlighted that total worldwide gold demand reached a record 5,002 tonnes in 2025. Stores in Guangzhou are experiencing waves of customers purchasing Lunar New Year gold, with popular counters even seeing queues. The consumer base is increasingly younger, while traditional older customers primarily focus on investment bars or wedding-related products for their children.

At a China Gold store, a salesperson detailed the day's pricing. As a state-owned enterprise with over 4,000 outlets nationwide, China Gold offers competitive prices. Promotional activities included a 200-yuan-per-gram discount on jewelry (plus a separate crafting fee), while bar prices already incorporated discounts and required no extra fees, making them more suitable for pure investment.

Regarding recent price trends, the salesperson noted that after previous increases, prices were in a correction phase. Influenced by geopolitical factors, the current period was presented as a good buying opportunity, with the possibility that promotional offers might change if prices rise further. For wedding purchases, practical, non-daily-wear items like bars were suggested for better value, whereas ceremonial pieces like dragon-and-phoenix bangles were recommended for wedding-day use.

At a Chow Tai Fok store, a salesperson promoted a uniquely designed persimmon-shaped gold bar, highlighting its high cost-effectiveness by offering decorative appeal at a process-bar price. With only eight pieces left in Guangzhou, it was described as a limited-edition item. The 100-gram ornament, featuring three-dimensional craftsmanship, was priced at approximately 135,000 yuan based on the day's bar price, making it more affordable than jewelry gold and requiring no additional crafting fee.

The salesperson also showed zodiac-themed products, such as Horse-year pendants and bars. Compared to other fixed-price ornaments costing up to 1,800-1,900 yuan per gram, the persimmon bar's price advantage was significant. While standard plain bars are available, consumer preference has shifted noticeably toward artistically designed process bars, leading stores to focus more on such products.

Continuous工艺 upgrades are fostering distinct product differentiation. For example, Chow Sang Sang's "Charme" beaded series offers varied designs, weights, and price points to create fashionable, versatile beads that cater to diverse customer segments.

Since a significant price surge around last year's National Day, gold prices have generally trended upward over the past four months, albeit with fluctuations. There is growing consumer interest in products that combine investment attributes, such as mini gold beans, small coins, or accessories like 5G craft bracelets, which serve both decorative and value-preservation purposes.

Lightweight Horse-year gold pendants with minimal gold content have proven very popular, with sales exceeding a thousand units since their launch for the New Year. Similarly, a "Money Flower" blind box series, priced at 412 yuan and containing 0.2 grams of gold, sold over 500 sets last month, representing a 30% to 40% sales increase compared to some previous single items.

The pre-holiday period is traditionally a peak sales season for gold, but this year has shown a distinct shift toward investment products. Last year, with prices around 600 yuan per gram, consumers leaned more toward jewelry like 5G or ancient-method pieces. Now, with prices significantly higher—surpassing 1,500 yuan per gram for jewelry before the holiday—consumers are more cautious, opting for lighter, more personalized items even when making purchases.

The concept of gold recycling is gaining traction. Industry insights suggest that over 80% of consumers plan to recycle or trade in gold within the next 1-2 years. The consumer mindset is evolving from storing gold at home to wearing it as decoration. This transition from "hoarding" to "wearing" is revitalizing the circulation of existing gold and spurring demand for trade-in and recycling models.

While闲置 gold retains financial value, older designs may no longer appeal aesthetically. Recycling allows consumers to monetize old pieces for new purchases or remold them into contemporary styles at a lower cost, extending their utility.

Many customers are seen bringing jewelry and bars for recycling at stores. Some, who purchased bars at lower prices, are now selling portions of their holdings to lock in gains, with plans to potentially reinvest later. The extra funds are often used to buy new festive items for family, reinforcing the notion that displaying gold brings prosperity during celebrations.

This growing interest has accelerated the development of gold trade-in services, offering a balance between value retention and consumption.

Currently, jewelry accounts for about 60%-70% of recycled gold, with bars making up 30%-40%. Large-volume bar recycling often spikes during rapid price increases, such as when prices jumped from around 970 yuan per gram after New Year's to over 1,200 yuan in roughly 20 days. On days with sharp increases of 40-50 yuan, stores may see an influx of bars weighing 300 grams or more. Nonetheless, monthly recycling volumes consistently show more jewelry than bars, a trend sustained since last October.

Given recent high volatility, investors are advised to avoid trying to "time the bottom" with large lump-sum purchases. Instead, a strategy of分批 buying and selling is recommended, focusing on personal needs rather than chasing market peaks and troughs.

Consumers predominantly prefer established offline channels for trade-ins. Major malls, branded stores, and specialized recycling companies are favored due to their brand credibility, ease of physical verification, and overall trustworthiness.

While online recycling platforms are not yet fully embraced by the market, several are entering this space. For instance, a collaboration has launched a "Gold Recycling Service Base," leveraging facial recognition, real-name verification, and payment technologies combined with professional inspection services to offer standardized online-to-offline recycling solutions.

Through this platform, consumers can conveniently recycle gold via mail-in or in-store services. All recycled gold is sent to refineries certified by the Shanghai Gold Exchange, ensuring a compliant closed-loop process. This addresses traditional pain points like low transparency, unreasonable quotes, and irregular payments, providing a secure and convenient channel for gold circulation.

For those considering gold recycling, key advice includes checking if the buyback price exceeds the Shanghai Gold Exchange's benchmark, being aware of potential hidden fees or issues with purity assessment and weight measurement, selecting reputable branded institutions that offer transparent weighing, melting, and testing processes, and insisting on corporate bank transfers for payment to avoid personal account risks, such as anti-money laundering controls or fund freezing, thereby ensuring financial security.