PRECIOUS METALS | Zhou Dasheng Discusses Gold Price Impact on Jewelry Industry

On April 30, Jin10 reported that Zhou Dasheng highlighted the significant impact of gold prices on the operations of the gold jewelry industry during a conference call on April 29. According to Jin10, the marginal impact of continued gold price increases in 2026 is expected to diminish for the industry. Following the implementation of the gold tax reform policy in November 2025, the market adapted faster than anticipated, with retail prices adjusting to include the tax. Data from self-operated stores indicate that sales have continued to rise, suggesting that the effects of the tax reform will gradually be absorbed by the market.