Jewellery shops shut down as Chinese consumers switch focus to gold bars and coins

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Most of the gold jewellery shops that once lined the main commercial street in Biyang, Henan province, have closed as gold prices hover at high but volatile levels and a decline in marriages dents demand.“Gold jewellery used to be very popular in our small county,” said 25-year-old kindergarten teacher Yu Qian, who described herself as a frequent buyer of gold jewellery. “There used to be more than 20 gold shops operating here, but I’d estimate that over two-thirds of them have already closed...