International gold prices have continued to rise in recent months, with the New York gold market hit a record high of $4,392 per ounce last week.

South Korea: Investment demand rises, gold stores warn

In South Korea, as the price of gold and silver continues to reach new highs and investment demand is rising, the major gold exchanges, gold stores and other stores in Seoul have stock warnings, ordering 10 cents (i.e. 37.5 grams) of gold needs to wait 4 weeks.

Owners of Seoul stores: It was all sold out during the Mid-Autumn Festival holiday, the factory no longer supplies it, and all the gold in stock was sold out.

On one street of precious metals in Seoul, South Korea, hundreds of sales stores gather.The Korean media said that more than 70 percent of precious metals commodities in the country are traded here.In recent years, business here has exploded abnormally, even in the afternoon of the working day, customers who ask for prices and options are also crowded.

Korean Channel A TV reporter:On the streets of a gold store in the Seoul Clock Road, prepared to go one by one to ask if there were 100 grams of gold bars for sale.I visited seven stores and found that five had no gold stocks and could not be sold, and the other two said they needed to wait more than two weeks before the goods arrived.

South Korea: High gold prices push silver prices to record highs

According to industry insiders in South Korea, the price of gold has continued to run at a high level recently, but investing in gold requires more principal, which has also caused many Korean consumers to pay attention to silver and related products with relatively affordable prices. Recently, the price of silver has repeatedly hit new highs. According to the data of Korea Gold Exchange, the price of silver on the 17th was 2,467 won (about RMB 12 yuan) per gram, with a cumulative increase of nearly 70% since the beginning of the year, which is higher than the increase of gold in the same period.

Gold prices hit new highs, and people's gold purchases fell significantly during traditional Indian festivals

At present, many places in India have entered the traditional festival-Diwali holiday, and many people have begun to buy gold ornaments. However, affected by the high international gold price, the domestic gold price in India continues to rise, and the local people's demand for gold has dropped significantly this year.

Since October 18, the festival has been celebrated in many parts of India. According to the custom, local people usually buy a lot of gold, silver and other jewelry or tools to pray for wealth and good luck. However, the day before, the price of gold in India once reached a historic high of about 1071 yuan per gram, which also dismantled many people's buying enthusiasm.

Owner of a jewelry store in Gujarat, India: Many people are trading in old products because the price of gold is too high. Most people can't afford new gold jewelry, and 50% to 60% of customers are trading in old pieces.

Reuters that domestic gold prices in India have increased more than 60% since the same period last year, plus the need to pay 10% to 20% of the gold price as a jewelry processing fee, and many customers have rejected gold.There are data from industry associations showing that the total sales of gold jewelry during the festival this year decreased by 10% to 15% compared to last year.

Vice-Chairman of the Association of Sulat Jewelry Manufacturers in India Joks: The market demand for silver has also increased, and this is mainly due to the customer's opinion that since the price of gold is so high, it can be first and so on, so customers turn to buy silver jewelry.

In order to stimulate consumption, many jewelry stores in India have introduced discounts on processing fees during festivals and year-end wedding seasons, and generally extended business hours to midnight. According to US media CNBC, India's gold demand accounts for about a quarter of the total global demand, of which jewelry is the largest source of demand, accounting for 75%.