"More Reassuring Than Stocks or Funds"... Why China's Millennials and Gen Z Are Buying Gold

China's Millennials and Gen Z Emerge as a Key Force in Gold Consumption
Buying Gold Beans Every Month and Posting on Social Media
Gold Buying Seen as Driven by Personal Satisfaction

Unlike their parents' generation, who bought gold as wedding gifts for their children and for similar purposes, Millennials & Gen Z are buying and collecting gold for personal satisfaction and as a practical way to save.

On October 26, Chinese outlet Lanjing News focused on this trend, reporting that young people have recently emerged as a key force in gold consumption.

China's Millennials & Gen Z are buying gold for personal satisfaction and as a practical way to save. Chow Tai Fook website.

Gold Jewelry Buying Purposes Shift from Those of Parents' Generation

China's Millennials & Gen Z are buying and accumulating gold for personal satisfaction and as a practical way to save. China's Xiaohongshu.

According to the "2026 Outlook for China's Gold Jewelry Retail Market" report recently released by the World Gold Council (WGC), consumers' reasons for buying gold jewelry have shifted from wedding preparations and gift-giving to personal satisfaction and everyday wear. About 44% of the retailers surveyed said that "consumers buy gold jewelry for personal satisfaction." The share of purchases for personal wear rose from 27% in 2024 to 37% in 2025, and is expected to continue increasing this year. By contrast, wedding-related purchases accounted for just 17%. Whereas gold was once primarily a staple of traditional ceremonies such as wedding trousseaus, young people are now buying gold rings and necklaces for small pleasures and as a treat for themselves.

Wang Feng, an office worker in Shanghai, uses part of his monthly salary to buy "gold beans" (jindou). "Each gold bean weighs 0.5 grams (g) and costs a few hundred yuan, but because it's a physical asset, it gives me more peace of mind than investing in stocks or funds," he said.

Xiao, an office worker in Hangzhou, also buys 1 g of gold every month and had accumulated a total of 30 g by September 2026. Xiao describes buying gold beans as "a kind of forced saving, not an investment." Without worrying about fluctuations in gold prices, Xiao spends around 1,000 yuan (about 200,000 won) on gold each month after receiving a salary. Xiao does not get upset or anxious when gold prices fall, nor sell when they rise.

Gold-Saving Content Actively Shared on Social Media

China's Millennials & Gen Z are buying and collecting gold for self-satisfaction and practical savings. Xiaohongshu, China.

Gold consumption among young people in China took off in 2024. As market interest rates fell at the time, younger consumers began turning to gold as a physical asset. Strategies for saving in gold and tips on how to invest are actively shared on social media. Posting photos of gold bars has also become a trend. Unlike previous generations, who bought gold in quantities of tens of grams or kilograms, young people tend to purchase only small amounts, often just a few grams.

The outlet noted that this gold-buying trend among young people is reshaping the structure of the overall gold market. In the first half of 2026, China's gold jewelry sales reached 144 billion yuan, up 5% from the same period a year earlier and close to a record high. By weight, however, demand for gold jewelry was 136 metric tons, down 30% year over year and the lowest level since 2006. This reflects a structural pattern in which sales volumes decline while the total value of consumption rises as gold prices increase. According to data from the China Gold Association, China's gold consumption in the first half of this year was 511,412 metric tons, up 1.23% year over year.

The outlet said the trend reflects young people's consumption of gold not simply for wedding preparations or major investments, but for personal satisfaction. Converting a set amount of one's salary into gold on payday has become part of everyday life, and is seen as a kind of reward for young people earning a few thousand yuan a month. It also noted a growing preference for practical purchases, with consumers focusing on tangible factors such as the actual price and workmanship costs rather than brand premiums or service fees.

This content was produced with the assistance of AI translation services.