- Chinese gold jewellery consumption dropped 34%, with domestic jewellers now targeting Middle East and India markets to offset the slump.
- Buyers from the Middle East and India dominated attendance at the Jewellery & Gem World Hong Kong fair, drawn by Chinese producers' hard pure gold technique that makes jewellery thinner and harder without extra gold weight.
- World Gold Council China CEO Wang Lixin expects Chinese jewellers to adapt hard pure gold for inlaid jewellery favoured by Middle East and India consumers.
Quotes
“Chinese gold jewellers are seeking opportunities in the Middle East and India with their advanced crafting technologies, as the industry struggles amid gold price volatility, the World Gold Council (WGC) says.”
“As consumers in the Middle East and India favoured inlaid jewellery, Wang expected Chinese jewellers could leverage the technique to find local buyers.”