Starting price for wedding "hardware" is at least 100,000 yuan

Gelonghui, February 24 — According to China News Weekly, during the Spring Festival, the wedding market experienced a peak season, with young people initiating a wave of engagements and marriages. As an essential part of traditional wedding customs, the demand for “hardware” (wedding jewelry and accessories) surged, and related topics trended on social media.

On February 21, in Changsha, Hunan Province, gold prices continued to rise during the Spring Festival holiday. Cai E Road Store Manager at China Gold told the media that this year’s Spring Festival gold price was 1,588 yuan per gram, and “now the hardware costs at least 100,000 yuan.” The manager explained that sales of chain sets under 6 grams performed well, costing around five thousand yuan, which most people could still afford. A netizen from Hubei posted that they spent over 110,000 yuan on hardware yesterday, saying, “This is a necessity, I can’t wait anymore.”

Many netizens feel that, based on current gold prices, “buying hardware with 100,000 yuan might not be enough” and “these days, gold is really expensive.” Zhong Ziran, Deputy Manager of the Business Department at Dongshan Department Store in Guangzhou, also told the media that on the second day of the Lunar New Year, some consumers spent over 120,000 yuan in a single purchase, buying various gold jewelry such as dragon and phoenix bangles, necklaces, and matching rings. Data from the first three days of the Lunar New Year show that gold jewelry sales in shopping malls increased by approximately 23% year-on-year, with gold jewelry sales doubling.

Industry experts pointed out that the prices of gold and other precious metals are currently at historic highs, and investors must remain rational when participating. “From recent market fluctuations, even if the precious metals market hits new highs again, it doesn’t mean the trend will continue upward. If certain factors trigger profit-taking among investors, prices of gold, silver, and other precious metals could quickly drop.”