6 May 2025 | Gold

China's gold market boomed during Labor Day celebrations

China's gold market boomed during Labor Day celebrations

According to a report by the World Gold Council, in the first three months of 2025, global prices for the main precious metal updated record highs 20 times. In this regard, the global demand for gold jewelry fell by 21% year-on-year. At the same time, investment interest in the precious metal sharply increased, reaching 551.9 tons (+170% compared to last year).

However, as noted by journalists of Bastille Post, despite high prices, the consumer market of gold in China revived during the five-day Labor Day celebrations. This was facilitated by promotional activities of local sellers.

Thus, in one of the shopping centers in the city of Wuhan, located in the central part of China, sales of gold bars and coins almost tripled during the three pre-holiday days. According to Cui Jiwang, a representative of the industry, retailers launched promotions amid the recent correction in the precious metal's prices and saw a noticeable surge in sales in response.

Driven by the current high prices, lightweight gold products, even gold beans weighing only 0.3 grams, are gaining popularity in China. Lightweight gold bars are also highly sought after.

Anton Volkov MarketCheese
Period: 30.04.2026 Expectation: 400 pips
Investing in Brent crude upon breaking above $101 per barrel
Yesterday at 11:09 AM 35
Period: 24.04.2026 Expectation: 680 pips
USDCAD hits new three-week low amid weaker demand for dollar
Yesterday at 10:28 AM 29
Period: 30.06.2026 Expectation: 5200 pips
Selling GBPUSD down to 1.30000
Yesterday at 07:02 AM 31
Period: 24.04.2026 Expectation: 1050 pips
AUDCAD drops due to rising stagflation risks in Australia
Yesterday at 06:56 AM 21
Period: 30.04.2026 Expectation: 1100 pips
Investing in USDJPY with 160.00 in view
16 April 2026 54
Gold sell
Period: 23.04.2026 Expectation: 20000 pips
Selling gold with $4,630 in sight amid monthly highs and declining volatility
16 April 2026 74
Go to forecasts