Jewelers on London’s Hat Garden Street Open Doors Amid Soaring Gold Prices
London’s renowned Hat Garden Street, often referred to as the city’s gold market, has seen a surge in traffic as jewelers prepare to buy back gold from customers amidst climbing prices.
One local seller, Jennifer Lily, views the current market conditions as an opportune time to liquidate her holdings. “I believe now is a good time to sell, and I anticipate receiving a solid price for my gold,” Jennifer explained. “While I could wait a year to potentially sell for more, I’ve recently lost my job and need the funds.”
Gold prices have soared close to $2,900 per ounce, marking an all-time high. This dramatic increase has led to a notable uptick in retail transactions.
Meanwhile, approximately 10,000 kilometers away in Jiang Suo province, China, citizens are opting for a different approach. Instead of purchasing new gold, some individuals are exchanging their clothing and jewelry to simply refresh their designs.
“During the New Year period, the price of a gram of gold spiked by $6 in a brief timeframe. Initially, customers reacted to the steep rise in prices, and we observed a decrease in purchases by 40 to 50%,” shared a local market representative.
Analysts attribute the notable rise in gold prices—up 30% in the last year and 9% so far this year—to a global trade war initiated by U.S. President Donald Trump.
