**Interview with Industry Experts on the Surging Gold Prices**
**Reporter:** There has been quite a buzz about gold prices skyrocketing this year. How do you explain this surge in price?
**Expert 1:** Absolutely, we’ve seen a remarkable increase in gold prices this year, with major brands’ gold jewelry prices staying above 800 RMB per gram for several days in a row. This climb has led to a buying frenzy in places like Guangzhou, where some consumers are purchasing gold as if it were a grocery item. For instance, one customer recently bought four kilograms of investment gold bars in one go.
**Reporter:** Can you share any specifics about the price movements recently?
**Expert 1:** Certainly! On October 18th, the spot gold price in London reached $2,722.13 per ounce, surpassing the $2,700 mark for the first time. A few days later, it even peaked at $2,755.80, hitting a historical high. Although there was a significant drop late on October 23rd, the price remained above $2,700. By October 24th, it rebounded to $2,733, marking an impressive 37.9% increase over the past year.
**Reporter:** What are consumers’ reactions to these price changes?
**Expert 2:** It’s a mixed bag. While many are eager to invest, some are approaching gold purchases with caution. For instance, a resident named Mr. Sun shared that he has only bought gold jewelry for gifts this year and is wary of the investment risks at these elevated prices. Conversely, another shopper named Ms. Lu is grappling with whether to buy now or cash in her existing jewelry due to the high prices.
**Reporter:** It seems that even amid caution, sales are booming. What are the sales figures looking like?
**Expert 1:** Sales at the Dongbai Gold counter in Guangzhou have indeed been robust. From the National Day to October 22, their total gold jewelry sales increased by 6% year-over-year, and investment gold bar sales surged by over 20%. We’ve even seen instances where customers are spending over 120,000 RMB in one transaction for investment gold bars.
**Reporter:** What do experts predict for the future of gold prices? Should investors be concerned?
**Expert 2:** There’s a significant divide in opinions. Some experts believe that the recent dip is merely a correction rather than a reversal. If key political figures, like Trump, are elected and push for large-scale stimulus policies, we could see inflation rise again, pushing gold prices up. It’s crucial for investors to remain rational and diversify their portfolios to mitigate risks.
**Reporter:** With prices fluctuating, what advice do you have for potential gold investors?
**Expert 2:** Given the current high prices and market uncertainties, it’s essential for investors to approach gold purchases with caution. For those who don’t yet own gold, this might be a good time to buy in small increments, while existing owners should consider selling some of their holdings. Above all, maintaining a diversified investment portfolio will help weather the ongoing volatility.
**Reporter:** Thank you for the insights! It seems that while gold remains a safe haven, investors need to be strategic in their approach.
**Expert 1:** Exactly! The key is to stay informed and proceed carefully, especially in this very active market environment.
**Reporter:** This has been an eye-opening discussion on the dynamics of the gold market and the varying consumer strategies in response to fluctuating prices. Thank you both for your time!
