Editor’s Note
This article highlights a shift in the retail investment market in Shenzhen, where surging precious metal prices have altered product availability. While copper bars have been removed from sale, gold and silver remain key options for investors.
a counter merchant at the Shuibei gold retail market in Shenzhen told reporters on January 27. With international precious metal prices soaring, purely investment-oriented products like gold bars, silver bars, and even copper bars have suddenly become popular in the Shuibei retail market, which once primarily sold jewelry. However, copper bar sales have recently been suspended. Multiple industry insiders told reporters that compared to gold and silver bars, copper bars suffer from severe premiums and a lack of recycling channels, making them poor investment vehicles.
On the other hand, as gold prices repeatedly hit record highs and the Lunar New Year approaches, several Shuibei merchants stated that although the traditional peak season for gold consumption has arrived, this year’s sales are unlikely to match the brisk business of previous years. An upstream material supplier said that under the impact of high gold prices, current product sales have dropped by about 30% compared to the same period in 2025.
Looking ahead, Wu Zewei, a special researcher at Suzhou Merchant Bank, said in an interview with reporters that the core logic supporting the long-term upward trend of gold prices in 2026 still exists. This expectation of “further advancement” will further consolidate gold’s strong financial attributes, and investment demand is expected to remain relatively strong. However, gold jewelry consumption will continue to face pressure. High gold prices will accelerate market differentiation, driving consumption further towards lighter weight, more design-focused, and premium products. Overall, the structural characteristic of the gold market—”hot investment, cold jewelry”—is likely to continue and deepen in 2026. (Cailian Press)