As international gold prices surpassed $2,700 per ounce, China’s domestic gold jewelry prices also hit new highs, exceeding 800 RMB ($112) per gram. Despite the approaching Singles’ Day (Double 11) shopping festival and various promotional activities by some shops, sales of gold jewelry have significantly declined. In the first half of 2024, gold jewelry consumption in the country fell by 26.68% YoY, while consumption of gold bars and coins grew by 46.02%. Although rising gold prices have increased the unit price of jewelry, the drop in sales has negatively impacted company performance. Experts suggest that gold brands need to adjust their sales strategies and that traditional gold stores should undergo transformation and upgrades.