“New way of saving money” and “Be happy and save some gold” … With the decline in deposit interest rates and increased volatility in financial products, some investors have started to turn to “accumulating gold beans” and show their achievements on social media platforms. Unlike the previous gold hoarding trend, the current trend of “accumulating gold beans” on social media is mainly among young people aged 25 to 35. Compared to buying a large quantity of gold, they are more interested in buying low-weight physical gold products at a higher frequency.
Li Lei (pseudonym), who works at a real estate company in Shenzhen, Guangdong, is one of them. Previously, she used to put one third of her salary into fixed deposit products every month. But with the decline in deposit interest rates, since May this year, she has started to use some of her idle funds to buy 2 to 3 gold beans every month. By October, she has accumulated about 15 gold beans.
With the popularity of “accumulating gold beans” among young people, some platforms and institutions have seized the “gold bean concept” and packaged and marketed related products and services. However, it is worth noting that behind the trend of “accumulating gold beans” and the positive meanings of value preservation and gradually accumulating wealth, there are still risks. Some industry insiders pointed out that “accumulating gold beans” itself is an investment in physical gold and has certain price volatility risks. It is recommended that investors should not blindly follow the trend and make investments based on their own needs.
The trend of young people accumulating gold beans shows that the consumption of gold jewelry is becoming younger. According to the 2021 “China Gold and Jewelry Consumption Survey White Paper”, 75.59% of customers in gold shops in 2021 are between the ages of 25 and 35.
Compared to the aesthetic and decorative meanings, the motives of young people accumulating gold beans for investment and financial planning are more obvious. The latest data released by the China Gold Association shows that the national gold consumption in the first half of this year was 554.88 tons, an increase of 16.37% compared to the same period last year. The person in charge of the China Gold Association stated that from the product categories of gold jewelry consumption, consumers tend to purchase lighter weight products, and the sales growth of gold products priced by weight is significantly higher than that of products priced per piece, indicating a continued rapid growth in physical gold investment consumption.
With the increasing popularity of “accumulating gold beans”, some platforms and financial institutions have also launched products and services related to gold beans. Recently,