I used to sell pure gold jewelry and joined a brand gold store in Xinjiang. Because the gold price was too high and the capital turnover was not smooth, we turned to “gold-plated silver”. Mr. Hai, who came all the way from Xinjiang with his team to purchase goods at a “gold-plated silver” store in Shuibei, Shenzhen, said.

The salesperson of this store introduced that the gold price of Shuibei is the price of the large market plus processing fees, which is much cheaper than that of brand gold stores. Currently, the domestic gold market price is around 780 yuan per gram, and the processing fee is about 15 yuan. A 30-gram pure gold loach back bracelet would cost over 20,000 yuan to purchase from Shuibei. The same style of “gold wrapped in silver” is marked with a gold weight of only 1.02 grams and costs less than 2,000 yuan.

Many industry insiders say that currently, some big brand gold stores are rather resistant to “gold-plated silver”. “Brand gold stores basically don’t deal with ‘gold-plated silver’. It’s usually small factories that do it.” ” Mr. Liu, the owner of Shuibei Market who is engaged in the retail of gold products, told the reporter.