China Closes 1,396 Gold Jewellery Stores as Demand Shifts to Bars
China has seen the closure of at least 1,396 gold jewellery stores as demand pivots toward investment bars, a trend exacerbated by falling marriage rates and sustained high prices. Major retailers including Chow Tai Fook and Lao Feng Xiang are significantly contracting their networks, with filings showing widespread store losses across lower-tier cities.
New company filings detailed in GN auto markets/commodities: gold prices quantify the exodus, revealing that Chow Tai Seng, Lao Feng Xiang, and China Gold have collectively shuttered over 1,100 outlets. These closures are attributed to a one-third drop in sales during the first half of the year, driven by high prices and a decline in marriage registrations.
Source: GN auto markets/commodities: gold pricesChinese jewellery retailers closed 1,396 stores in recent periods as consumer demand shifted from ornamental gold to bars and coins.
Source: GN auto markets/commodities: gold prices
