Gold jewelry is an essential part of Chinese wedding customs but with international gold prices continuing to surge and reaching new highs, a disruptive trend of “rent instead of buy” has emerged among the brides- and grooms-to-be in mainland China.
A new generation of young Chinese couples is no longer fixated on owning gold jewelry; instead they opt for rentals. Some residents in mainland China have reported being able to rent a full set of dragon and phoenix bangles worth over 60,000 yuan for just 1,000 yuan, with domestic jewelry rental platforms experiencing explosive growth, seeing a year-on-year increase of 210%.
According to reports from mainland media, some residents stated that they rented a full set of dragon and phoenix bangles and other gold jewelry weighing over 50 grams for less than 1,000 yuan for a 7-day period, far below the cost of purchasing the set, which easily exceeds 60,000 yuan. One interviewee noted, “If I were to buy this set, with the current price of 1,235 yuan per gram, it would cost at least over 60,000 yuan. After the wedding, I wouldn’t wear it again, and it would just be a waste sitting there.”
A representative from a jewelry rental platform in Hangzhou revealed that since the wedding peak season began in October, order volume has significantly increased compared to the same period last year. The most popular items are full wedding gold jewelry sets weighing 50 to 100 grams, rented at a rate of about 28 yuan per gram for a 7-day period for lightweight dragon and phoenix bangles.
This “rental” phenomenon is rooted in the sustained surge in global gold prices in recent years. In 2025, international spot gold prices frequently hit new highs, once exceeding 4,300 USD per ounce, setting a historical record. Although prices have dropped recently by over 3%, they still remain at 4,077.42 USD per ounce. Market analysts widely believe that geopolitical risks, a weakening dollar, inflation pressures, and central banks globally continuing to increase their gold reserves are all factors driving the strong rise in gold prices.
The soaring gold prices also pose a severe challenge to traditional gold jewelry sales models. Many leading jewelry brands have already felt the pressure. Chow Tai Fook, a Hong Kong jewelry enterprise, recently announced plans to increase retail prices for gold products by the end of October, considering the impact of rising gold prices on costs. Most products are expected to see price increases of 12% to 18%. Earlier in March, the brand had already implemented a price hike of 10% to 20%. However, the pricing strategy may not fully offset the impact, as Chow Tai Fook reported declines in both revenues and net profits, and has closed 896 stores in the mainland market.
