Young Chinese consumers embrace gold amid price surge

A customer selects gold accessories at a gold shop in Qionghai city of south China's Hainan Province, Jan. 29, 2026. (Photo by Meng Zhongde/Xinhua)

Even as gold prices continue to climb, young Chinese consumers' enthusiasm for buying gold shows no sign of cooling.

According to the 2025 Chinese Jewellery Retailer Insights report, 62 percent of consumers aged 18 to 24 now own gold jewelry, up from 37 percent five years ago. Young people aged 18 to 34 account for more than one-third of total gold jewelry sales.

Gold jewelry has long been cherished in China. Traditionally worn during festivals, celebrations, and anniversaries, it symbolizes prosperity, auspiciousness, and happiness. But its cultural role is steadily expanding. Today, gold has also become a fashion statement.

The main force driving gold consumption is shifting toward younger buyers. According to Zhang Yi, CEO and chief analyst at iiMedia Research, demand is no longer solely about preserving value, as lightweight, stylish pieces are increasingly favored.

"I used to think gold looked old-fashioned and tacky, but my view has completely changed," said Ms. Li, a consumer born after 1995, as she browsed a pendant inspired by a popular video game character.

On social media, the hashtag "gold jewelry styling" has generated more than 100,000 posts, with young users sharing tips on incorporating traditional gold jewelry into their everyday outfits.

What kinds of gold jewelry are young consumers buying?

"The most popular items right now are small pieces weighing 1 to 3 grams," said a salesperson at a gold jewelry store. "Young customers care about design. These items are affordable, easy to purchase, and suitable for everyday wear or collecting."

For some, gold has even become a monthly savings ritual.

"Every time I get my paycheck, I buy a gold bean," said Wang Jin, a programmer working in Shanghai, showing the ones he has collected over the past year.

At today's prices, one gold bean costs around 1,100 yuan ($158). Compared with purchasing larger gold bars in one go, these affordable products ease the financial burden, making them a perfect fit for young people's limited disposable income and their growing urge to save.

Lin Wei, 27, said she used to spend money on bags. Now she prefers to buy gold. "Bags go out of style and lose value, but gold retains its worth. Even if the design becomes outdated, you can melt it down, remake it, or sell it at market price," she said.

Young investors are also exploring diverse gold products. Liu Hua began investing in gold savings plans through her bank in 2024. By early 2025, she had accumulated 25 grams of gold at an average cost of around 815 yuan per gram, aiming for short-term profits.

In addition, she purchased 4,600 yuan worth of gold-backed exchange-traded funds in October 2025. Her experience shows that young people are becoming savvy yet cautious investors, balancing risk across different gold products, and transforming emotional saving habits into concrete investment strategies.