Editor’s Note
**Editor’s Note:** This report highlights the impact of surging precious metal prices on Hong Kong’s retail sector, as record gold, platinum, and silver values deter mainland tourists during the Christmas holiday.
Jewelry stores along Canton Road in Tsim Sha Tsui, once packed with mainland Chinese visitors snapping up gold, appeared unusually quiet during the Christmas holiday weekend as international gold prices surged past US$4,500 per ounce.
Platinum and silver also hit record highs, prompting caution among mainland tourists who form a key customer base.
Shops saw only sparse foot traffic despite the festive period, a stark contrast to previous years when crowds of shoppers from across the border thronged the area.
Visitors from Shenzhen and Dongguan said they came mainly to visit relatives rather than shop for gold.
Some local residents considered selling gold held for over three years but planned to avoid tourist-oriented shops in the area, preferring to compare offers elsewhere.
