Golden Surge: The Unstoppable Rise in Gold Prices

Recent record highs in gold prices have sparked a buying frenzy in Shanghai and Hong Kong. With experts predicting further increases, demand is high as buyers seek safe-haven assets amid global economic uncertainty and geopolitical tensions.

Gold prices have reached unprecedented heights this week, prompting a rush of customers to stores in Shanghai and Hong Kong. Buyers, optimistic about future increases, continue to invest heavily in the precious metal.

According to gold seller Zhao Jinhao in Shanghai, gold awareness has become a long-term trend. The price has significantly risen from just over 20 yuan in the 1980s to more than a thousand yuan now.

In Hong Kong, Simon Littmann of Swiss Investors Corporation Limited reported his busiest January in two decades due to high demand but noted challenges with supply. Despite higher prices affecting wholesale demand, investment-style bars and coins remain popular.

(With inputs from agencies.)