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China: Chinese consumers turn to gold jewelry trade-in amid high bullion prices

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Storyline: Chinese consumers turn to gold jewelry trade-in amid high bullion prices [Voice_over] With international gold prices rising, shoppers in Ningbo city, of east China's Zhejiang Province are both investing in gold bars, and trading-in their gold jewelry. The U.S. government shutdown, coupled with global economic uncertainty and ongoing geopolitical conflicts has pushed spot gold prices to historic highs recently. The manager of one department store in the city said most of their gold sales are from people investing in gold bars. [Sound_bite] Ma Jie, marketing department manager, department store: "Total sales of gold products have increased by about 30 percent. The sales of gold bars are the biggest chunk of those. Meanwhile, the sales of gold jewelry are keeping stable." [Voice_over] But when it comes to gold as fashion, some people are choosing to recycle. One person said trading-in old pieces for new ones make more sense in the current market. [Sound_bite] Consumer: "Since they're old-fashioned, it's better to trade in new ones now. I already have something I can wear, so I won't stockpile them. The main thing is to try something new." [Voice_over] Earlier this month, gold prices topped 4,200 U.S. dollars per ounce for the first time in history, continuing a rally for the safe-haven asset that hasn't been seen in decades. [Restrictions : No access Chinese mainland]

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