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.