# China Gold

Gold Fever at Lunar New Year Exposes a Divide: Scale Players Grow Sales, Niche Brands Keep Margins

A post‑holiday rush of young buyers in China is boosting sales of lightweight, design‑led gold jewellery even as global bullion prices climb. Financial results show a split: large franchised chains drive revenue through scale while a handful of boutique operators extract far higher margins, but the durability of brand premiums is uncertain because resale values remain tied to metal prices.