On May 20, the websites of gold jewelry brands such as Chow Tai Fook, Luk Fook Jewellery, Chow Sang Sang, and Lao Miao Gold showed that the domestic price of pure gold jewelry exceeded 742 RMB ($104.62) per gram. Since the end of 2022, gold prices have risen by more than 40%. According to data from the China Gold Association, in the first quarter of this year, the national gold consumption reached 308.905 tons, a 5.94% increase compared to the same period in 2023.