Industry insiders: The tax policy for gold jewelry as a consumable has not changed, so for ordinary consumers, buying gold jewelry has no impact.

On November 1st, the Ministry of Finance and the State Taxation Administration issued the "Announcement on Tax Policies Related to Gold", clarifying the tax policies related to gold trading. Industry experts believe that the new regulations will crack down on illegal over-the-counter trading and short-term arbitrage activities, which may affect the price of gold. However, in the medium to long term, it will not affect genuine demand, but rather benefit legal industrial demand, jewelry demand, and investment demand. Will the gold tax policy affect ordinary people buying jewelry? An industry insider pointed out that the new policy mainly targets investment-related gold trading, and the tax policy for gold jewelry as consumer goods has not changed. Therefore, for ordinary consumers, buying gold jewelry will not be affected. In fact, when consumers purchase gold jewelry, the retail price usually already includes value-added tax and consumption tax. For example, when a jewelry retailer sells gold jewelry, they need to pay a 13% value-added tax, which is already included in the price of the jewelry. Similarly, a 5% consumption tax is included in the retail price of gold jewelry. However, in the future, there is a possibility that a decrease in the supply of non-exchange-traded gold raw materials may increase the production cost of gold jewelry, which could indirectly affect the retail price of jewelry.