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“62% Chinese women own gold jewelry, 51% own smartphones”, WGC Study

Reading Time: 3 minutes China is one of the world’s biggest gold consumers. Even amidst the geopolitical uncertainties, many investors are attracted to the country. China is a market of active retail investors with a strong affinity to gold. And there is a sizeable pool of potential new investors according to the World Gold Council. Chinese investors have put their […]
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China is one of the world’s biggest gold consumers. Even amidst the geopolitical uncertainties, many investors are attracted to the country. China is a market of active retail investors with a strong affinity to gold. And there is a sizeable pool of potential new investors according to the World Gold Council.

Chinese investors have put their trust in the yellow metal. Recently, a survey was conducted among 2000 investors by the World Gold Council.

There most of the investors say that simplicity and reassurance are the key factors of this yellow metal compared to other investment products.

“Simplicity and reassurance are the top two drivers for investing in the metal, underpinned by its accessibility and the belief that it offers protection against inflation.” 

Moreover, 24% of retail investors have never invested in the metal say they would now consider doing so. 72% of the investors who bought the precious metal in the past also say that  they will continue buying the metal.

Barriers of Gold investment

One of the main barriers in the metal’s investment is trust. Many are still in doubt about their expected return.

“Trust issues are a clear barrier to investing in the metal. 44% of those who have never bought the metal say they worry about buying fake or counterfeit gold, while 35% say they are put off by the purity not being guaranteed.” 

Apart from that many investors still do not have proper understanding about the metal. Many are not aware of the factors which drive the price.

“We found a gap in understanding around the availability of gold investment products, including entry price points and how the metal is valued: 29% of potential investors say they don’t understand what drives the price of this yellow metal.”

China’s Gold Jewelry market

This yellow metal is undoubtedly the most attractive jewelry for consumers. Chinese consumers have a passion for the beauty and lustre of the metal.

Most of the Chinese women among the respondents own gold jewelry than any other assets.

“62% of Chinese women said they own gold jewelry, well ahead of smartphones (51%). Despite this, 30% of women say they have never bought this jewelry, but would consider doing so in the future.”

Women between the ages of 18 to 24 in China are less connected with gold, than those in other markets. 

Globally, 25% of women between the ages of 8 to 25, bought the metal for self use. While only 21% of women bought the metal in China.

Only 16% of Chinese women are intending to buy the metal in future, compared to the global percentage of 21%.

Barriers in jewelry industry

Most of the Chinese women says that the jewelry lacks modern style or fashion. 46% of them says that they could not find anything they liked. While 42% says that the style of the jewelry doesn’t suits them. 

But 41% of women say that they already have enough gold kept with them. 25% says that the metal is too flashy.

All these represent the resistance towards outdated styles of gold jewelry.

“Gold jewellery is perceived to be outdated and lacking style. Chinese women often feel that it is too difficult to find the jewellery that they like or that suits their style. Among considerers who have never bought, 90% quote reasons relating to desirability or fashion. This sentiment is particularly strong among the 18-24 year age group.” World Gold Council reports.

Check out spot gold prices in your local currency.

The post “62% Chinese women own gold jewelry, 51% own smartphones”, WGC Study appeared first on Goldometer.

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