HK Stock Market Move | Gold jewelry stocks fell the most, jewelry brands lowered the prices of gold jewelry, and the pace of gold jewelry consumption showed some fluctuations.

The gold jewelry sector saw a significant decline, as of the time of writing, LAOPU GOLD (06181) fell by 4.43%, closing at 625 Hong Kong dollars; LUK FOOK HOLD (00590) fell by 3.97%, closing at 23.24 Hong Kong dollars; CHOW TAI FOOK (01929) fell by 2.52%, closing at 11.23 Hong Kong dollars; and CHOW SANG SANG (00116) fell by 0.84%, closing at 14.12 Hong Kong dollars. According to reports, the "fixed price" gold jewelry, which had been steadily rising in price, saw a slight decline due to fluctuations in international gold prices. On April 16th, CHOW SANG SANG unusually lowered the prices of its "fixed price" jewelry, with some styles seeing price reductions of hundreds of yuan. This reflects a softening trend in the gold jewelry consumption market against the backdrop of high gold prices. Northeast Research released a report stating that in the short term, the impact of high VAT and high gold prices is affecting consumer demand, with the long-term outlook seeing consolidation of mid-to-long-tail brands in the industry. Following the US Federal Reserve's interest rate cuts and continuous central bank gold purchases, the long-term outlook for gold prices is bullish. The consumption rhythm of gold jewelry may have slight fluctuations, with brand competitiveness transitioning from "scale" to "efficiency and premium capability". They recommend prioritizing brands with a high proportion of fixed prices, strong brand momentum, and craft barriers, and suggest investing in LAOPU GOLD/Beijing Caishikou Department Store Co., Ltd.