LAOPU GOLD is set to increase its prices again! The company recently announced a pricing adjustment scheduled for October 26. This marks the third price change this year, with previous adjustments occurring in February and August. Since the beginning of the year, gold prices have been rising and reaching new highs. On October 17, spot gold prices briefly broke through $4,380 per ounce, setting a new historical record. However, on the evening of the 17th, spot gold prices plunged, closing down 1.73% at $4,251 per ounce. Since the start of the year, spot gold has seen an increase of over 60%. In the Hong Kong stock market, LAOPU GOLD has been a stellar performer. Since its listing in June last year, the company’s stock price soared more than twenty-six times. However, starting from mid-July this year, LAOPU GOLD’s stock has undergone a correction.

On October 17, LAOPU GOLD, known for its traditional handcrafted gold jewelry, released a pricing adjustment notice stating that a price increase is set for October 26. The details of the adjustment will be based on actual prices at online and offline stores. This marks the third price change for LAOPU GOLD this year, with previous adjustments occurring in February and August. It is understood that LAOPU GOLD typically makes 2 to 3 pricing adjustments annually. On August 25, the company raised prices by 10% to 12%, and in February, price increases ranged from 5% to 12%. According to reports, store employees anticipate a price increase of about 10% to 12% this time based on previous adjustments. However, some employees cautioned, “Just because the last price increase was 10% to 12%, it does not mean this will be the same; it depends on international gold price movements and specific product pricing.”

In additional reports, many offline stores of LAOPU GOLD have sold out their plain gold jewelry, and several online models are out of stock. Recently, as spot gold prices continue to rise, the prices of domestic jewelry brands’ solid gold products have also increased. As of October 16, products from Chow Tai Fook, Luk Fook Jewelry, Chao Hong Ji, and Lao Miao Gold have reached 1,279 RMB per gram, up over 400 RMB compared to approximately 800 RMB per gram at the beginning of 2025.

LAOPU GOLD is referred to as the “Hermès of the gold industry.” Founded in 2009, it is the first brand in China to promote traditional gold concepts. Unlike other gold retailers, LAOPU GOLD sells its products at fixed prices and does not adjust prices in real-time with daily fluctuations in gold prices. According to research from Frost & Sullivan, consumers of LAOPU GOLD have a high overlap rate of 77.3% with customers of major international luxury brands such as Louis Vuitton, Hermès, Cartier, and Bulgari, indicating that LAOPU GOLD attracts a high-end consumer demographic.

In the first half of 2025, LAOPU GOLD’s revenue was 12.354 billion RMB, a year-on-year increase of 251%; its gross profit amounted to about 4.705 billion RMB, up 223.4% year-on-year; and its adjusted net profit, according to non-international financial reporting standards, was approximately 2.35 billion RMB, a 290.6% increase year-on-year. As of June 30, 2025, LAOPU GOLD had opened 41 self-operated stores in 16 cities, all located in well-known commercial centers. LAOPU GOLD’s stock debuted on the Hong Kong Stock Exchange in June last year and has since surged, reaching a peak of 1,108 HKD per share in early July this year, over twenty-six times the issue price of 40.50 HKD per share. However, since mid-July, shares have experienced a correction, dipping as low as 661 HKD per share. In the past three trading days, LAOPU GOLD has rebounded, increasing by 9.16%, 6.21%, and 3.11%, with its latest market capitalization at 143.1 billion HKD.

On the international gold market, gold prices have been on an upward trajectory since the beginning of the year. On October 17, spot gold prices briefly exceeded $4,380 per ounce, reaching a historical peak. Despite the significant drop later that evening, the cumulative increase since January remains over 60%. That evening, Jiujin Mining, listed in the A-shares market, disclosed its third-quarter report, indicating a revenue of 254.199 billion RMB, a year-on-year increase of 10.33%, and a net profit attributable to shareholders of 37.864 billion RMB, an increase of 55.45% year-on-year. During this reporting period, the company saw gold and copper production increase by 20% and 5% year-on-year, respectively, quickly releasing production capacity while capitalizing on the upward price trend of metals.

Previously, Shandong Gold issued a performance forecast, expecting a net profit attributable to shareholders in the first three quarters of 2025 to be between 3.80 billion and 4.10 billion RMB, which would represent an increase of 1.73 billion to 2.03 billion RMB compared to the same period last year, showing a year-on-year increase of 83.9% to 98.5%. During this period, the company significantly improved operational efficiency while scientifically matching project construction, which, along with rising gold prices, has led to substantial profit growth year-on-year.

As for the future trajectory of gold prices, Dongguan Securities believes that an interest rate cut by the Federal Reserve in October is almost certain, with the ongoing government shutdown adding to uncertainty. The decline in dollar credit fundamentals is establishing a solid base for rising gold prices, with geopolitical tensions providing ongoing support. Hence, with the backdrop of expected interest rate cuts and heightened demand for safe-haven assets, gold is likely to maintain upward momentum in the medium to long term. Guo Xin Securities concurs, stating that the underlying logic supporting long-term growth in gold prices remains unchanged, with factors such as global economic slowdown and debt crisis risks continuing to provide support for gold prices.

Guangzhou Futures notes that multiple favorable factors are contributing to a robust current environment for precious metals: the rising risk of US bank credit, ongoing geopolitical tensions, and persistent policy uncertainties are generating strong demand for safe-haven assets. The Federal Reserve has clearly entered a rate-cutting cycle and is likely to continue easing within the year to counter potential economic risks, significantly improving the holding environment for precious metals. Additionally, global central banks' ongoing strategic accumulation provides long-term structural support, unlocking potential for rising gold prices.

While there are clear core driving factors, short-term catalysts like US tariffs and government shutdown risks may provide further support, and although technical correction risks exist, the medium-term upward trend for precious metals remains evident. The market should closely monitor dynamic changes in these core driving factors. However, some brokerages caution that if the US government shutdown continues and economic data remains uncertain, safe-haven funds may further drive up gold prices. Nevertheless, in the long run, if the political situation eases and the government resumes operations, market confidence could be gradually restored, potentially leading to price adjustments in gold.