Shi Hongyue: speculation to promote jade prices skyrocketing

Recently, the 2011 Shanghai International Fashion Jewelry Festival opened on the Bund. More than 20 designers of the world-renowned jewelry companies gathered hundreds of pieces of jewellery, and also held the "China Gold Jewelry Industry Development Summit Forum."

Shi Hongyue, the full-time deputy secretary-general of the Chinese Jewellery and Gemstone Jewelry Industry Association, analyzed the phenomenal rise in Chinese jade prices and international gold prices in the past 10 years. He believes that speculation has pushed up prices.

Shi Hongyue said that in the Chinese jade market, the price of Huangpi Hongtian Huangdiao rose from 2000 to 5,000 yuan per gram in 2000 to 20,000 to 30,000 yuan per gram in 2010; the price of suet white jade is In 2000, the price of 20 to 30 yuan per gram rose to 10,000 to 20,000 yuan per gram in 2010; the price of green and jadeite soared from 8,000 to 10,000 yuan per gram in 2000 to 200,000 to 30 yuan per gram in 2010. Ten thousand yuan, and the international gold price rose as much as five times since 2000. “This year, high-grade jade, jadeite, Tianhuang, and even Bahraini stone and bloodstone all have amazing growths. Tian Huanghong of Shoushan Stone has the best yellowness, and now the general collectors will not be able to shoot less than 50,000 per gram.”

Shi Hongyue said that there are many reasons for the stepwise growth of jade prices in China, such as scarce resources and non-renewable resources, rising demand for people to increase demand, and investors' bullish investment potential for jade. “But the key is speculation, tens of billions. Hot money speculation has pushed up prices."

According to the data provided by the summit forum, the total sales of the Shanghai gold and jewelry industry soared from 11 billion yuan in 2004 to 33 billion yuan in 2010, hitting record highs. Shi Hongyue said: "The price of gold and silver also depends on speculation, not on the relationship between market supply and demand. The price of gold and silver has nothing to do with the world situation. The price of silver is "kidnapped" by its financial derivatives. The so-called regional turmoil caused The argument that the price of gold is high is only the beginning of profit for international financial tycoons."

Shi Hongyue reminded investors with the largest increase in jade as an example. “There are many varieties of jadeite, of which Jadeite bracelets have a good contrast, and their price is a relatively effective reference indicator. Investors can use the prices of jade bracelets to compare the prices of reference businesses. Of course, speculation in any market is unavoidable, and it is necessary to maintain a clear-headed mind when choosing “Jinshi” as an investment target.”