Chinese gold jewelry prices soar to 1007 yuan per gram.

The spot price of gold has hit a new high, and the price of gold jewelry in China has also soared to 1007 yuan (RMB) per gram, sparking discussions about gold prices once again.

On April 16, the spot price of gold reached a new high, with the peak continuously being refreshed. At the time of reporting, the highest price was $3291.02 per ounce.

Regarding the price of gold jewelry in China, according to a report by Red Star Capital, several well-known jewelry brands have exceeded the 1000 yuan per gram mark. For example, Chow Tai Fook (01929.HK) listed its gold jewelry at 1006 yuan per gram; Lao Miao Gold priced its gold jewelry at 1003 yuan per gram; and Chow Sang Sang’s gold jewelry was marked at 1007 yuan per gram, showing a significant increase of 12 yuan per gram compared to the previous day’s price of 995 yuan per gram.

The latest research from the World Gold Council shows that in the first quarter of 2025, the inflow of gold-backed exchange-traded funds (ETFs) reached 226 tons, valued at $21 billion, marking the largest quarterly inflow in nearly three years. The report indicates that North American-listed funds accounted for 61% of the total inflow, while the European market represented approximately 22% of the demand, and the Asian market accounted for 16% of the global inflow funds.

The substantial rise in gold prices recently has led institutions to significantly raise their price outlook for gold. Citigroup’s research suggests that gold prices could climb to $3500 by the end of the year. “In our view, gold prices will reach $3500 per ounce by the end of the year, as concerns about a hard landing/stagflation in the United States lead to a significant increase in hedging/investment demand, which will support gold prices,” Citigroup stated.

Analysts at JPMorgan also question whether a price of $4000 is possible. The bank’s researchers point out that the gold price surged from $2500 to $3000 in only 210 days, much faster than the average of over 1700 days for a $500 increase in the past.

However, some analysts caution investors to remain vigilant. David Wilson, senior commodity strategist at BNP Paribas, stated, “The gold market will need to digest or normalize. If trade tensions do not continue to escalate, it will be difficult for gold prices to maintain further upward momentum in the second half of the year.”