International gold prices have risen to 4,400 USD, prompting a shift towards lighter gold jewelry consumption.

Two months later, international gold prices have once again crossed the $4,400 per ounce mark. Domestic gold jewelry prices have also seen a significant increase recently. According to Peng Xiaozhen, a researcher at Zhuochuang Information, the most direct effect of high gold prices on gold consumption is that the purchasing threshold for consumers has clearly risen. However, this does not mean that gold consumption will simply experience a sharp decline; rather, it is more noteworthy that the consumption structure has changed. Firstly, while consumer inquiries in stores may still exist, the conversion from just looking to actual transactions will decline, leading some consumers to adopt a stronger wait-and-see attitude. Secondly, consumers may control their total budget by purchasing lower weights. In other words, in a high gold price environment, consumers do not necessarily stop buying gold completely; instead, they might shift from purchasing larger weight products in the past to preferring lighter weights and products that emphasize design. Peng Xiaozhen believes that under high gold prices, the differentiation between necessity-driven and non-necessity-driven consumption will become more pronounced. Wedding, festive, and certain traditional gifting demands have strong rigidity; even with price increases, consumers find it difficult to indefinitely postpone purchases, opting instead to control spending by reducing weight or adjusting styles. In contrast, self-indulgent spending and non-essential decorative consumption have relatively higher price elasticity. This group of consumers is more likely to choose to wait for price adjustments or reduce the weight of their purchases.