Gold rentals gaining luster

Gold's sharp surge this year is reshaping the jewelry and investment markets, giving rise to new consumer trends from wedding gold rentals to trade-ins.

As of 1 pm Wednesday, spot gold traded at $4,084 per ounce, down 0.3 percent for the day but still up more than 50 percent year-to-date. A 100-gram gold purchase at the start of 2025 would now be worth nearly 20,000 yuan ($2,807) more, underscoring the metal's stunning rally.

The price spike has also turned the traditional "Wedding Three Golds" — necklace, bracelet and ring — into a costly burden for couples. To ease the strain, a new solution is catching on: gold rentals.

The rise in gold rental promotions is rampant on social media. A jewelry rental platform in Hangzhou, Zhejiang province, reported by Lanjinger, said that since the beginning of the October wedding season, orders have jumped sharply, with over 80 percent of customers born in the 1990s and 2000s. Rentals cost 28-38 yuan per gram for seven days, depending on craftsmanship. In comparison, at current retail prices — around 1,268 yuan per gram — a 100-gram wedding set costs about 126,800 yuan, nearly 27,000 yuan more than the same weight in gold bars.

"Gold prices are rising fast, jewelry carries high premiums and resale losses are inevitable. Renting is much more cost-effective," said a groom-to-be surnamed Li.

Once seen as old-fashioned, gold jewelry has regained popularity among young buyers aged 25 to 34, but many now prefer gold bars for their liquidity and lower premiums.

To sustain sales, brands are offering old-for-new trade-ins and per-gram discounts of up to 150 yuan on select designs. Consumers are actively comparing offers online, with some traveling across cities to find better deals.

Gold's volatility and frequent scams have prompted regulators to issue risk warnings. "The gold bull market still faces short-term swings and hasn't necessarily peaked," said Bai Xue, senior associate director at research unit of Golden Credit Rating.

Legal professionals said gold rental practices are legal if transparent but warn of potential disputes. "Consumers should carefully inspect items, confirm refund terms and check merchant qualifications," Yin Yu, senior partner at Guangdong Guanghe Law Firm, told Legal Daily.

Despite new options, many couples still prefer to buy their own gold, even in smaller amounts. "Marriage is a once-in-a-lifetime event," said bride-to-be Wu Mingxue. "If prices are high, I'd rather buy lighter pieces or wait — I wouldn't rent just to keep up appearances."

wangzhuoqiong@chinadaily.com.cn