National Day gold jewelry sales season superimposed lower international gold prices, leading to a wave of gold buying craze.

During the National Day, a reporter from time Weekly visited a number of gold stores in southern China, and various brands of gold stores attracted customers with various discounts, which were unprecedented. At the same time, as the main force of gold jewelry consumption, mothers prefer gold jewelry, which has boomed the store business.

Behind the booming business in gold stores, the sales "routines" of gold jewelry brands are hidden. According to a reporter from time Weekly, most of the gold jewelry with low total prices sold in major gold stores are not sold by grams, but are priced as a whole, and are sold at high prices with ancient gold craft packaging. According to employees, some of the gold ornaments sold at a "mouthful price" sell for as much as 800-900 yuan / g.

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National Day, the major gold jewelry brands are scrambling to do preferential activities, attracting many consumers.

A reporter from time Weekly visited and found that there were differences in preferential activities among stores of different brands or different regions of the same brand. Take a physical store in Fuhaizhu District on Saturday as an example, the discount offered by some stores is that the price of gold is reduced from 467 yuan / g to 410 yuan / gram, and a 30% discount is given for all the jewelry with "one bite price". Another nearby Fujin store offers a "1000 get free" discount and can also participate in the lucky draw. At the same time, there are also stores that buy gold and give gifts, such as "an umbrella for 1699, an air fryer for 6999," and so on.

Different stores of the same brand have different forms of marketing packaging, but in the end, the price is relatively similar.

Time Weekly reporter found that under a wide variety of preferential policies, gold ornaments sold at "mouthful price" are the main products of major brands. Lao Fengxiang, a salesperson at a store in South China, told time Weekly that young customers now like to buy "mouthful price" products with exquisite craftsmanship. The products priced by grams are generally jewelry with heavy grams and high total price. When asked why trinkets could not be sold per gram, the salesperson said that the process could not be done.

The above-mentioned sales staff at the Fu store told time Weekly on Saturday that "one-mouthful price" products are more popular. If you don't like them after buying them back, you can replace them with other commodities at the original price, refund more and make up less; and for products priced by grams, the price will fluctuate with the international gold price. If you want to change it in the future, it must be converted according to the real-time gold price, and you will also lose the labor fee, which is not cost-effective.

A customer who is checking out told time Weekly: "I bought a 'one-bite price' product, because now I can buy a discount of more than 2000 yuan, and then if I want to change it, it will be at the original price, which is pretty good."

With regard to the policy of trade-in, there are differences among different brands, while Lao Fengxiang's salesperson said that he needs to trade in the old for new and then buy equivalent goods at a 20% discount.

The pricing "routine" behind the gold craze

Behind the online buzzwords such as "it is better to save money than to save gold beans" and "addicted to buying gold", more and more young people are joining the "army" of buying gold. The recent decline in gold prices, gold nine silver ten consumption season superimposed preferential policies, the National Day "gold buying craze".

"Business is very good on National Day this year, especially three days before the holiday," the salesperson told time Weekly. "in the past, it was mainly the elders who wore gold jewelry, but now the craftsmanship can make more and more fashionable styles and win the favor of more and more young girls."

Behind the "gold craze" and preferential promotion, there are hidden gold store pricing "routines".

Shuibei Village and Da Luotang Village are the two major jewelry distribution centers in South China, and a large number of brands get goods from these two wholesale markets. The salesperson of Da Luotang Village told time Weekly, "many consumers do not know about this place, but well-known brands such as Saturday Fu and Chow Tai Fook Jewellery are actually processed and produced on our side, but the premium space for brand stores is greater."

On October 6, a reporter from time Weekly saw at the scene that most of the gold ornaments in Daluotang Village are clearly marked. The price of 999 full gold is 399 yuan / gram. The National Day discount is 2 yuan / gram, the lowest is 397 yuan / gram, and the labor fee ranges from 5 yuan to 20 yuan.

"the price of gold on our side all follows the international price of gold. The price this morning is still 405 yuan / g. Now it has fallen below 400 yuan, which is already very cheap." A salesperson said.

However, there are also some stores that do not have promotions on National Day. The staff of the store said: "the price of goods in our store may only be half that of the brand store."

Time Weekly reporter did not find gold ornaments of "one mouthful price" in Daluotang village. The salesperson said: "the 'mouthful price' is a sales' routine'. Rings or necklaces in many brand stores are not sold by grams. If you price the whole piece, you won't know the weight of the jewelry, so you can sell it for 800-900 yuan a gram."

Lin Fan (a pseudonym), who is engaged in sales work in a brand gold store, also confirmed the above statement to a reporter from time Weekly. Lin Fan said that many brand gold stores in the market pick up goods in the wholesale market, and only a few big brands have their own purchase channels. At present, many gold stores mainly promote "one-mouthful" goods, and many "one-mouthful" goods are priced at more than 800 yuan per gram.

Lin Fan points out that if you like the style of "one-bite price" goods, it is worthwhile for customers to buy, but there are many customers who do not know that the unit price of "one-bite price" products is so high. In Lin Fan's view, the craft such as Gufajin emphasized by the sales staff is not too high in technology. it is a kind of sales argument, suggesting that customers who have investment considerations should try their best to choose and buy products priced by grams.

Time Weekly reporter noted that for brand stores, the purchase of gold and sales price difference is a profit model, wage price difference can also bring profits. For example, in Daluotang Village, the labor fee is mostly 5 yuan / g, while the brand shop fee is easily increased by 20-30 yuan / g, which is a major source of profit. Therefore, if small pieces of gold jewelry are sold according to grams, it is more difficult to make money, while large pieces of gold jewelry have greater profit margins.

Gold prices have temporarily stabilized.

At present, there are two main factors affecting the international gold price, one is the disturbance of the geographical situation, and the other is the tightening of US dollar liquidity.

Recently, as the outlook for the Fed's monetary policy has become more blurred, gold prices have temporarily stabilized. However, Liberum analyst Tom Price said the U.S. non-farm payrolls report, released on the evening of Oct. 7 (Beijing time), could be crucial to gold, which is at a technically critical moment.

Data show that spot gold began to decline after reaching $2070.21 an ounce in March, falling to $1614.67 an ounce before National Day, a drop of more than 22%. Spot gold closed at $1712.26 an ounce as of Oct. 6.

TD Securities believes that as the Fed plans to continue to raise interest rates above 4.5 per cent until inflation abates, gold prices will lose momentum in the coming months and may fall again to the target price of $1580 an ounce.

Wayne Gordon, a wealth management strategist at UBS, believes that as the real yield on US 10-year Treasuries is expected to exceed 1%, coupled with a stronger dollar, there will be further capital outflows from gold ETF and futures in the coming months. Gold is likely to fall further to about $1500 an ounce.

ETF--SPDR Gold Trust, the world's largest gold, has been selling gold in recent months, falling from an one-year high of 1106.74 tonnes on April 19, to 946.34 tonnes as of Oct. 5, reducing its holdings by more than 160 tonnes in less than half a year.