【Hong Kong】Hong Kong’s Gold Jewelry Sales Hit Historic Record in Year of the Dragon

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Editor’s Note

As the Year of the Dragon approaches, “dragon fever” is driving a surge in Hong Kong’s gold jewelry market, with sales projected to rise by at least 30%. This heightened demand is also expected to push gold prices to record levels.

A medida que se acerca el Tet en Hanoi, la gente acude en masa a Nhat Tan para elegir flores de durazno, algunas de las cuales cuestan cientos de millones de VND.
Record Sales Forecast

Gold jewelry sales in Hong Kong are expected to increase by at least 30% during the 2024 Year of the Dragon due to the “dragon fever.” Consequently, many industry experts predict that gold prices will reach historic highs.

Cultural Significance Drives Demand

Zhang Dehui, President of the China Gold and Silver Exchange Association, stated:

“Many couples decide to marry and have children in the Year of the Dragon because it is considered a sacred animal in Chinese culture and beliefs, representing power and strength.”
Promocionar la imagen de Vietnam comienza con la difusión de la cultura vietnamita.

Previous Dragon Years have also experienced a surge in birth rates.
Mr. Zhang added that many jewelry stores have increased their dragon-themed gold product lines by 30% compared to last year, anticipating a significant sales boost.

Major Retailer’s Strategy

Lukfook Group, one of Hong Kong’s largest gold jewelry retailers, has launched a range of dragon-shaped gold jewelry and artifacts, including coins, bracelets, and necklaces.
Nancy Wong, Chief Executive Officer of Lukfook, shared:

Hanoi: El mercado de flores está tranquilo a medida que se acerca el Tet, los comerciantes esperan ansiosamente el último minuto.
“We have also prepared a large quantity of golden dragon-themed jewelry for weddings and babies to meet consumer demand. Furthermore, this year Valentine’s Day falls on the fifth day of the Lunar New Year, so we have prepared gold jewelry for that occasion as well.”
Regional Demand and Price Predictions

Rotbart and Company, a small gold trading firm with branches in Hong Kong, Singapore, and the Philippines, also offers a line of dragon-motif gold bars. A company representative revealed:

“We have received a large number of advance orders not only from Hong Kong customers but also from Singaporean Chinese and Filipinos.”

Mr. Zhang predicts that the gold price will rise by approximately 30%, reaching $3,196 per tael. International gold prices could climb from the current level of $2,035 per ounce to near the historic high of $2,500 per ounce.

Inesperadamente, la flor de durazno de siete pétalos
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⏰ Published on: February 12, 2024