Shuibei Wholesale Market Sees Surge in Shoppers Amid Gold Price Dip and Holiday Week
A decrease in gold prices and the extended holiday period have drawn visitors and shoppers to Shuibei wholesale market, with one local gold seller noting a significant increase in customers.
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According to the South China Morning Post, a reduction in gold prices combined with the week-long National Day holiday has attracted tourists and shoppers to the Shuibei wholesale market. Xiao Lei, a gold seller operating in Shenzhen's Shuibei district, reported a surge in customers and an increased workload during the holiday as shoppers sought to purchase jewelry at reduced prices.
Shuibei functions as one of China's largest wholesale centers for precious metals, despite the city being recognized more for its technology sector. Xiao stated that the volume of customers at her shop had risen considerably throughout the holiday period. She mentioned that her clientele included visitors from Jiangsu and Zhejiang who were taking advantage of the long holiday to purchase gold, although she noted that the majority of customers were young individuals from Guangdong.
Furthermore, Xiao indicated that the attraction was not solely due to the holiday. She reported that the price of gold in Shuibei had decreased from over 1,000 yuan (US$149.1) per gram the previous week to approximately 945 yuan on Wednesday.
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