A sharp rebound in global gold prices is boosting demand for gold jewelry in Guangming District, where retail prices have climbed above 1,400 yuan (US$195) per gram.

International spot gold recently approached US$4,700 per ounce, a three-month high. On Aug. 25, major jewelry stores in Guangming reported increased customer traffic, with the traditional “Golden September, Silver October” consumption season expected to provide further support.

At the Fenghuangcheng shopping area, stores operated by major jewelry brands have updated their price boards. Lao Feng Xiang listed gold at 1,406 yuan per gram, while Chow Tai Fook quoted 1,410 yuan per gram. Despite the elevated prices, customers continued to visit the stores.

Retailers said sales had risen steadily this month, driven by expectations of further price increases, recent Qixi Festival purchases and wedding-related demand. A Chow Tai Fook store manager said August sales were expected to increase by 10% to 15% from the previous month.

High prices are also changing consumer preferences. Shoppers are increasingly choosing lighter pieces rather than heavy gold jewelry, retailers said, with items weighing less than 10 grams — particularly those between 3 and 7 grams — proving especially popular.