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Customers return to Hong Kong's protest-hit jewellery shops to sell their gold as coronavirus pushes prices sky-high

Section: Daily Dispatches

By Enoch Yiu
South China Morning Post, Hong Kong
Sunday, March 15, 2020

Hong Kong's jewellers, who took a big hit from months of anti-government protests, have found their shops busy again this year.

But the new customers are not shopping for bracelets, wedding rings, or earrings. They are there to sell their gold jewellery.

... Dispatch continues below ...


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Sellers are taking advantage of the gold price, which has climbed almost 10 percent this year to reach a seven-year high early last week. The rapid spread of coronavirus has dampened stock markets globally and investors have been rushing to buy the yellow metal, long known as a safe haven. ...

"I am thinking of taking my gold jewellery to sell as the gold price has reached such a high level," said a potential seller who wanted to be identified only as Sandy. "I bought my gold jewellery some years ago when the price was almost 30 percent lower than current levels.

"I can take the profit now and buy them back when the price goes down. I am worried about the coronavirus outbreak, but then I think wearing a mask to go to the shop will protect me." ...

>... For the remainder of the report:

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