Gold prices have surged to record highs, with spot gold exceeding $4,200 per ounce in October, fueling a significant rise in online gold purchases across major platforms like Tmall and JD.com. Consumer behavior is shifting towards ‘buying on the rise,’ with investment-grade gold and high-value products seeing heightened demand. Non-shipment issues are emerging as a critical concern, with over 2,000 complaints logged on platforms like Hei Mao Tousu, where sellers delay or cancel orders amid rapid price hikes. Regulatory and platform interventions are urgently needed to address inventory mismanagement and seller accountability. The gold price surge is driven by macroeconomic factors including geopolitical tensions, inflationary pressures, and shifting monetary policies. In China, domestic gold prices have adjusted daily, with retailers reporting consecutive increases. E-commerce platforms have become the epicenter of this buying frenzy, with online sales of gold and jewelry growing by 16.4% in 2024. However, the surge has exposed vulnerabilities in the e-commerce ecosystem, particularly regarding seller reliability and consumer protection. As prices continue to climb, both investors and regulators must adapt to ensure market stability and transactional integrity.
Gold Price Surge Ignites E-commerce Buying Frenzy Amid Rising Non-Shipment Complaints
