Global gold prices have climbed steadily in recent days, igniting a noticeable surge in trading activity at the Shuibei gold market. According to a first-hand market check by our team, on August 24, the benchmark gold price held firm above the 1,000 yuan per gram mark for the first time in three months.

The upward momentum in gold prices has clearly fueled a rebound in end-consumer demand. One local merchant reported that during the weekend following the price hike, foot traffic in Shuibei rose significantly, with their sales volume doubling compared to the previous week, jumping from roughly 100 grams per day to 200 grams. Another retailer noted that current sales have reached the highest point seen in recent weeks.

Moreover, insights gathered from multiple vendors reveal a long-absent market dynamic: some material suppliers are now refusing to sell their gold stock even when offered higher prices, a situation that last occurred several months ago. This shift marks a notable change in supply behavior amid the current rally.

As gold's appeal strengthens, the question on many minds is whether this signals the return of a sustained bull market.