Small, exquisite gold products popular among young consumers in China

In recent years, young people have shown a growing interest in buying gold. Rather than engaging in large transactions, they are now opting for affordable, lightweight, and creatively designed gold products.

"I'm planning to gift a 2-gram gold pendant to a close friend as a classy and thoughtful gesture," said Sun. She keeps an eye on gold prices and occasionally treats herself to small-weight gold jewelry. She prefers these items because they are accessible, offer both aesthetic and investment value, and are beautifully crafted, making them irresistible.

Customers view gold jewelry at a gold shop in Jinan, capital of east China's Shandong Province, Jan. 27, 2024. (Xinhua/Zhu Zheng)

Many gold shops in Beijing are packed with young consumers selecting gold jewelry. In stores of big brands, lightweight gold jewelry is typically sold at fixed prices, slightly higher than heavier pieces but more budget-friendly overall.

Gold phone stickers have also become a popular choice among young buyers. These stickers, weighing around 0.1 grams, are usually priced under 100 yuan (about $13.73). Adorned with stylish Chinese designs, they can be easily attached to phones and other items, making them a hit during the Spring Festival.

Wang Pengbo, a senior analyst from market consultancy Botong Analysys, mentioned that gold is a traditional safe-haven asset and can be a choice for asset allocation, which is a key reason why young consumers value gold.

Wang believes that for young consumers, being willing to buy relatively affordable gold products is a sign of sensible spending. This also shows the increasing demand for wearing gold jewelry daily and the rising desire for personalized and diverse designs among young consumers.

Currently, there is a wide range of lightweight gold products on the market with attractive designs and reasonable prices, giving consumers options. Some gold jewelry pieces are small and perfect for everyday wear, while others can be mixed and matched as necklaces, bracelets, and more, becoming trendy accessories.

The World Gold Council's 2024 report on the gold jewelry retail market in China said young people aged 18 to 34 accounted for more than one third of total gold jewelry retail sales. Young consumers mainly opted for affordable, lightweight, and creatively designed gold products.

"The gold industry is continuously focusing on capturing the interests of young consumers, with manufacturers constantly improving products to cater to the new buying demands of consumers," said Zhu Zhigang, vice president and chief gold analyst of the Guangdong Gold Association.