On September 14, 2024, the opening ceremony of the Shenzhen Jewelry Festival and the 11th China Gold and Jewelry Grand Ceremony proceeded as scheduled. Wang Shengbin, Deputy Secretary of the Party Committee, Secretary of the Disciplinary Committee, and Vice President of the China Gold Association, pointed out in his speech that in the first half of this year, as the gold price continues to hit historic highs, the sales of gold jewelry and gold bars and coins show a polarization trend: the consumption of high-premium gold jewelry has significantly decreased, while the consumption of gold bars and coins with relatively low premiums has increased substantially. The substantial fluctuation of gold prices at high levels has increased the operational risks for gold processing and sales enterprises, leading to reduced purchases by wholesale and retail enterprises, and a substantial decrease in jewelry processing by enterprises. Faced with market changes, the industry not only sees challenges but also new opportunities. Currently, the post-90s and post-2000s generations have become the mainstream consumer groups for our country's gold jewelry. Moreover, high-quality jewelry represented by ancient gold jewelry continues to be the favorite choice of consumers for gold jewelry consumption, marking a significant upgrade in the consumption structure of China's gold and jewelry. He stated that the 11th China Gold and Jewelry Grand Ceremony is timely in helping the industry better understand market trends and further tap into the consumption potential of our country's gold and jewelry, bringing about new opportunities.