Record high prices drove a surge in Chinese gold investment demand even as it created headwinds for the gold jewelry sector.

Xu Gaoming, an ex-fisheries clerk in China who started jewelry brand Laopu Gold in 2016, has amassed a $9 billion fortune.

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Consumers check gold accessories at a gold store in Changzhou, East China's Jiangsu Province, on February 2, 2025. Photo: VCG ...

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