PRECIOUS METALS | Shenzhen's Water Bay Sees Surge in Gold Purchases During Spring Festival

Shenzhen's Water Bay area has experienced a significant increase in gold purchases during the Spring Festival, with many stores remaining open throughout the holiday period. According to Jin10, numerous tourists from other provinces have traveled specifically to buy gold, making Water Bay a must-visit destination in Shenzhen. A manager at a Water Bay gold store reported a more than 30% year-on-year increase in customer traffic. Experts attribute this rise in gold consumption to the combination of holiday shopping demand and the festive season, resulting in both increased volume and price.