Jewellery shops shut down as Chinese consumers switch focus to gold bars and coins
Most of the gold jewellery shops that once lined the main commercial street in Biyang, Henan province, have closed as gold prices hover at high but volatile levels and a decline in marriages dents demand.
“Gold jewellery used to be very popular in our small county,” said 25-year-old kindergarten teacher Yu Qian, who described herself as a frequent buyer of gold jewellery.
“There used to be more than 20 gold shops operating here, but I’d estimate that over two-thirds of them have already closed...
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