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Luxury jewelers raise prices as gold hits high

With domestic and international gold prices rising by nearly 6% in one week, the price of gold jewelry has once again surpassed the 800 RMB ($108.3) per gram mark. On Saturday last week, gold prices at brands like Chow Tai Fook Jewellery Group and Luk Fook Holdings International exceeded 812 RMB per gram ($111 per gram), while Chow Sang Sang Holdings reached 814 RMB per gram ($111.3 per gram). Last week, the US dollar index rose from a low of 106.10 to a high of 108.09 during Friday trading, marking its highest point since October 2023. Despite the strength of the US dollar, international gold prices continued to rise for five consecutive days.

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