Rising gold prices during the Spring Festival shopping rush have led many Chinese buyers to opt for redesigning their old jewelry rather than purchasing new, expensive pieces. Gold jewelers in Kunming City have reported a significant decline in customer traffic, with a decrease of 40-50% during this traditionally busy period. Sales have been affected by the increasing price of gold, which rose by approximately 40 yuan (5.5 USD) per gram.
As a result, a growing trend has emerged, with many customers bringing their old gold jewelry in for redesign and customization. In Nanjing, several customers have sought to remold their jewelry at a low cost, as processing fees are generally only 10 to 15 yuan (roughly 1.4 to 2 USD) per gram. This trend reflects a more cautious attitude towards gold purchases amidst fluctuating prices.
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