CHOW TAI FOOK (01929) has seen its stock rise by over 4%, currently up 4.39% at HKD 16.42, with a trading volume of HKD 307 million. This comes as the price of spot gold continues to climb, prompting Japan's largest gold retailer to halt sales of gold and platinum bars weighing 50 grams or less due to high demand. Several leading jewelry brands in China are also set to raise their gold jewelry prices. Starting from mid to late October, brands including CHOW TAI FOOK and Chow Sang Sang have announced price increases for their 「fixed price」 gold jewelry, with increases ranging from 10% to 35%. Guotai Junan Securities reported that the retail sales of the gold jewelry industry are expected to grow by 16.8% year-on-year in August 2025. Overall, the third-quarter sales of the industry are projected to improve significantly, supported by persistent upward gold prices and a low base effect. The fixed price gold products, which are popular among young consumers, are less sensitive to gold price fluctuations, leading to an anticipated growth rate for these brands that exceeds that of the overall industry.