Demand analysis of gold market

Jewelry consumption is the main application field of gold in China.

Gold is a special precious metal with dual attributes of commodity and finance, but it has been used to make jewelry since it was discovered by the world. Specifically, jewelry consumption was the main consumption demand of gold in China in the downstream consumption field of gold in China in 20021year. In 20021year, the consumption of gold ornaments in China was 7 1 1.3 tons, up 45% year-on-year. Followed by gold bars and coins and industrial and other gold.

Supply side: Gold products are more favored by sellers.

From the downstream consumption of gold jewelry, first of all, from the seller's point of view, according to the data of China Gold News, gold products occupy a dominant position in the inventory of Chinese jewelry retailers. According to relevant data, in terms of value, gold products will account for 45% of the total inventory of Chinese jewelry retailers in 2020, ranking first in all categories. 202 1, the proportion further increased to 52%. It can be seen that gold jewelry is more favored by sellers.

According to statistics, in 20021year, among all kinds of gold ornaments in the inventory of gold retailers, shop gold ornaments still accounted for the highest proportion, exceeding 30%, followed by hard gold products and ancient gold products. Among them, ancient gold ornaments are popular in recent years, ranking fourth in 2020 and third in 202 1.

Demand side: the buyer's consumer demand has rebounded.

From the perspective of buyers and consumers, the consumption of gold jewelry in China has fluctuated since 20 16 years. In 2020, affected by the epidemic, the consumption of gold jewelry in China decreased to 490.6 tons. In 20021year, with the gradual control of epidemic situation and the rapid recovery of domestic economy, the consumption of gold jewelry in China increased by 45% year-on-year.

In terms of product breakdown, among the 490.0 tons of gold jewelry consumed in 2020, the total retail sales of traditional gold jewelry is 34.80 1 ton, and the total annual retail income of such products is 65.438+069.874 billion yuan, accounting for 70.94% of the total consumption of gold jewelry in China. Followed by ancient gold jewelry. In 2020, the total retail sales of ancient gold jewelry in China is 92.23 tons, which is 26% higher than that in 20 19, accounting for 18.80% of the total consumption of gold jewelry in China. The total retail revenue of this kind of products was 54.243 billion yuan, up 670 19 year-on-year.

Generally speaking, China is a big consumer of gold, among which gold ornaments are the main downstream areas of gold consumption in China, accounting for more than 60% of gold consumption in 202 1 China. From the downstream gold jewelry market, the current sellers prefer gold jewelry to diamonds, jadeite and other jewelry; The buyer's consumer demand also picked up in 202 1, and among them, ancient gold jewelry is the most popular category of gold jewelry in recent two years.

—— The above data comes from the Analysis Report on Market Foresight and Investment Strategic Planning of China Gold Industry by Forward-looking Industry Research Institute.