Gold rush 2.0: China’s Gen Z transforms bullion into bling

What happened A new trend is taking over China’s Gen Z: DIY goldsmithing. Young consumers are melting gold bars, heirlooms, and even gold beans to craft personalized jewelry. Some create minimalist rings, while others recreate the gold bangle worn by Nezha, the mythological hero in the recent cinematic sensation, out of gold they had bought as a safe-haven asset amid market volatility. On Xiaohongshu (also known as RedNote), the hashtag “goldsmithing at home” (#居家打金) has surged to 40 million views, while Douyin videos with “goldsmithing” (#打金) have reached 3 billion views. Whether for investment or self-expression, this modern gold rush is reshaping China’s jewelry landscape. How social media is turning gold crafting into a viral sensation In her quaintly decorated home, Wumeng (@梧萌), a food blogger from Hubei province, carefully heats a handful of gold beans nestled in a plaster mold with a high-temperature torch. Under the intense blue flame, these nuggets slowly melt into shimmering liquid gold. Then she places the mold into a glass of cold water, where the plaster begins to dissolve on contact. As she scrubs off the plaster residues with a brush, a gleaming butterfly ring emerges. This short video documenting the goldsmithing process, posted earlier this month, has garnered over 140,000 likes and saves on Xiaohongshu. The posts shared by young DIY creators like Wumeng cover every detail from where to find the right tools to how to prevent gold splattering due to rapid expansion, or metal impurities. The Jing Take Chinese consumers are going after gold, as its price continues to hit record highs despite occasional minor dips. Since last year, an increasing number of young people have been adding gold to their portfolios to hedge against deflationary pressures. Gold beans, which could double as ornaments, were once what Gen Zers rushed to snap up for their cheaper cost and thus higher premium per gram. A confluence of geopolitical factors, including Trump’s tariff plans that herald a potential trade war, are prompting consumers to invest in gold. Central banks are continuing their gold-buying spree to diversify away from the U.S. dollar, further driving up demand. The People’s Bank of China has increased its gold holdings for three consecutive months. Gold as investment and art: Why Gen Z is obsessed with DIY jewelry With gold prices soaring, consumers — particularly millennials and Gen Zers — are spending more on gold jewelry, also spurred partly by the “guochao,” or patriotic consumption, zeitgeist. According to the World Gold Council, Chinese consumers aged 18-34 were responsible for more than one third of gold jewelry sales last year, especially hard pure gold products and heritage-inspired designs. Shares of Lao Pu Gold, a domestic handcrafted gold jeweler surged by 10% last month, hitting an all-time high. Eager buyers have been queuing for as long as eight hours to make a purchase at its Beijing SKP store. With financially savvy young consumers seeking both value preservation and self-indulgence, this goldsmithing craze has taken off. While some enjoy experimenting with this soft, precious metal, others revel in watching the transformation of an old, dusty bangle or a dull gold bar into a sleek, customized piece of art. Financially savvy Gen Z turn goldsmithing into a profitable side hustle Some have turned this self-taught gold crafting into a lucrative side business. One couple, who run the Xiaohongshu account Riluodajin (@日落打金), shares how they earn 50,000 RMB ($6,887) per month thanks to goldsmithing alone. This trend has also fueled a surge in sales of goldsmithing tools on e-commerce platforms like Taobao, where melting bowls, agate knives, and polishing kits are selling out fast. How long this phenomenon lasts will likely hinge on future gold price fluctuations. While gold has rallied over 12% to $2,954 per ounce so far this year, its lure may fade if prices begin to drop. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

Gold rush 2.0: China’s Gen Z transforms bullion into bling

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Published February 27, 2025

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Gold rush 2.0: China’s Gen Z transforms bullion into bling