Gold Buyers in China and India Switch from Jewellery to Bars and Coins as Prices Soar

Gold prices topped $4,000 an ounce in October 2025, Reuters reports. That squeezed jewellers' profits on making jewellery, so buyers in China and India shifted to bars and coins instead. ANZ Research expects gold to hit $4,800 in 2026 — about 20% above today's record level.