During the National Day holiday, the Shenzhen Shuibei gold and jewelry market experienced a surge in sales. As a key distribution hub for China's gold and jewelry industry, multiple shopping malls and gold stalls in Shuibei were bustling with activity.

During the National Day holiday, reporters visiting Shenzhen Shuibei observed large crowds in gold showrooms, with market foot traffic rising sharply. Many merchants were overwhelmed with orders, often too busy to eat, and stayed open until around 9 p.m. Holiday foot traffic reached three to four times the usual level.

Hao Runwei, a gold merchant in Shenzhen Shuibei, stated that sales during this year's National Day period increased by 50% compared to last year. "We were extremely busy during the holiday and couldn't restock fast enough. Bracelet inventory was basically depleted, and we are gradually replenishing it. Whether light-weight or heavy-weight items, sales were very strong during the holiday."

Zhang Rui, another gold merchant in Shenzhen Shuibei, noted that plain bracelets were a hot item. "We stocked plenty of inventory for the National Day holiday, but it sold out within the first two days."

Wedding gold jewelry became the main driver of this consumption wave. Demand for products related to wedding "three golds" and "five golds," such as dragon-phoenix bracelets, double-happiness chains, and wedding bands, was robust.

Peng Kangteng, a gold merchant in Shenzhen Shuibei, said, "For weddings this year, sales increased by 60% to 70% compared to last year. We stocked two to three times the usual amount before the holiday, but by October 4 and 5, we were out of stock, and some factories had to call workers back for overtime."

Trading old gold for new also saw a surge. Many consumers brought out old gold jewelry stored at home, paying the price difference to exchange for new wedding jewelry. This not only revitalized idle gold but also reduced the cost of purchasing new items.

Out-of-town tourists flocked to the Shuibei market, and the number of international visitors buying gold increased. A pullback in gold prices combined with holiday promotions drew tourists from other regions to this largest gold and jewelry distribution center in China, making Shuibei gold jewelry a must-buy souvenir for those visiting Shenzhen.

Recently, international gold prices experienced a significant correction. Gold futures on the New York Mercantile Exchange fell below $4,200 per ounce, while domestic Shanghai gold broke through the 900 yuan per gram mark. Branded gold jewelry prices cumulatively dropped by about 150 yuan per gram from their peak.

Driven by the downward trend in gold prices, the listed price of gold jewelry in Shenzhen Shuibei fell back to 1,061 yuan per gram. Coupled with various promotional activities, gold consumption demand was concentrated and released during the National Day holiday.

During the National Day period, the proportion of out-of-town tourists in the Shenzhen Shuibei market increased noticeably. Many tourists, after visiting attractions and enjoying morning tea, made Shuibei their final stop to pick out gold jewelry to take home. Some tourists even traveled specifically from other cities to make purchases. Gold and jewelry are becoming one of Shenzhen's local specialties.

Hao Runsong, a gold merchant in Shenzhen Shuibei, stated that out-of-town customers accounted for about 60%. Sales during the National Day period increased by around 30% year-on-year and about 40% month-on-month.

The surge in tourist demand also boosted the gold shopping guide business in Shuibei. During this year's National Day holiday, gold shopping guide Xu Xu brought at least 30 to 40 groups of out-of-town customers to buy gold in Shuibei every day.

While visiting, reporters also noticed a quiet increase in international faces in the Shuibei market. Diamond jewelry and high-quality gold jewelry were particularly favored by overseas tourists.

A Russian tourist told reporters, "We came to Shenzhen Shuibei this time to buy earrings and rings. I am especially happy to be here. There are so many beautiful things and lots of gold. I like large styles. The prices here are much cheaper than in Russia, and there are more different styles to choose from."

Zuo Jing, a jewelry merchant in Shenzhen Shuibei, said that during the National Day period, they received about a dozen batches of foreign tourists daily, usually from Russia, Indonesia, and Kazakhstan. They tend to prefer larger-carat diamonds, such as 3 to 5-carat lab-grown diamonds.

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