China and India investors ditch gold jewellery for bars and coins as prices surge

Reuters reported January 26, 2026 that investors in China and India have shifted from gold jewellery to bars and coins as surging prices squeezed fabrication margins. Spot gold breached $4,000 per ounce in October 2025, per Reuters. ANZ Research projects USD 4,800 for 2026 — roughly 20% above that breach level.