Are people born in the 90s trending to buy gold on JD.com?

Author | Wang Xiaojun

Editor | Huang Yu

In recent years, gold has "broken the circle" and become the "top trend" in the hearts of young people.

Many young people's saving methods have turned into saving small gold beans and hoarding gold. Even in consumption scenarios, those who used to think gold was tacky are now directly awakening their bloodline. Young people who used to be "stingy" about buying gold at the Shui Bei wholesale market have turned it into a new tourist attraction.

On July 3rd, JD Finance held the event "Qianjun Xushi Leaping into the Golden Gate - 2025 JD Wealth Gold Investment Strategy Conference." According to the user profile disclosed by JD at the event, investors born in the 1990s accounted for over 50%, and Generation Z is becoming the core force in gold investment. This group, once labeled as "consumerist," is quietly becoming the core force in gold investment.

Over the past year, the rise in gold prices has also proven that this wave of young people has made the right bet, with gold prices rising from around 400 yuan/g in 2023 to now doubling, and even nearing 1000 yuan/g at its peak.

Interestingly, JD Finance's data also shows that gold trading hours are concentrated between 8 PM and 11 PM, highly overlapping with commuting and leisure time, showcasing the characteristics of "fragmented financial management."

From a regional distribution perspective, Guangdong, Jiangsu, and Zhejiang consistently rank as the top three in gold consumption, which also reflects regional characteristics. Guangdong ranks first due to the tradition of "no gold, no marriage," Jiangsu is second due to its cultural heritage of "bulk gold buying," and Zhejiang leads with its investment attributes of "industrial capital + private collection."

Currently, against the backdrop of increasing global economic uncertainty, the allocation value of gold as a safe-haven asset continues to stand out. In the first half of this year, gold became the best-performing major asset, with spot gold rising by 25%. The three major factors driving the rise of gold are global central bank purchases, geopolitical risks, and inflationary pressures, while the Federal Reserve's policy shift and the dollar's movement will be key variables.

Many professionals in the gold industry believe that the foundation for a long-term bull market in gold is solid, and it has strategic allocation value.

Zhang Yongtao, Secretary of the Party Committee, Vice President, and Secretary-General of the China Gold Association, stated that the current gold market in China faces uncertainties such as global economic fluctuations, but also welcomes opportunities such as the growth of residents' wealth. Improving the market system and innovating financial products are important strategic choices for breaking through the industry.

Liu Yuhui, a director of the China Chief Economist Forum, proposed the concept of a "golden decade" in his keynote speech, believing that the golden decade is the best fixed investment asset. After the G2 agreement, there may be a mid-term adjustment, but given the background of the times, the long-term space remains broad. He also emphasized focusing on the premium of winning long positions and cherishing every opportunity for "picking up passengers" in China's core assets during intense competition and collisions. He also stressed embracing digital assets and RWA, which is a major trend and opportunity.

Yang Zhenhai, head of investment business for the World Gold Council in China, believes that gold prices are likely to fluctuate widely in the second half of 2025, but the downside space is limited. In the medium to long term, core factors such as dollar credit risk and global geopolitical risks will continue to support the gold bull market The long-term annualized return rate of gold is approximately 8%, which is comparable to the global nominal GDP growth rate; however, under the current backdrop of accelerated gold purchases by global central banks, the yield center of gold is expected to rise, providing a relatively robust long-term source of returns for portfolios in a low-interest-rate environment. Additionally, during periods of increased volatility in stocks, bonds, and exchange rates, gold serves as an important hedging tool against price and exchange rate fluctuations.

Similar to consumption trends, young people are also more inclined to choose online platforms for financial management.

A relevant person in charge of JD Finance introduced that JD Finance has been positioning its gold business as a core competitive advantage for six years, and in 2019, it took the lead in developing from an "account perspective," breaking the traditional single-product model of platforms. In their view, gold is not just a simple commodity but an important dimension of asset allocation, requiring the construction of full-chain service capabilities.

Currently, JD Finance has created a one-stop gold trading platform that integrates physical gold, accumulated gold, gold ETFs, gold recycling, and other tools. Investors can directly access the "JD Gold" channel through the JD Finance APP and freely choose tools based on their investment strategies and goals.

Regarding the incremental space for gold investment, the relevant person in charge of JD Finance introduced that the platform will upgrade from three aspects.

First, it will strengthen the investor education system, enhancing investors' risk awareness through research teams and ecological partners, and promoting rational investment; second, it will improve the one-stop product system for gold, jointly building a "gold+" product matrix with banks and fund companies to expand more high-quality products and innovative models; third, it will refine the professional service system for gold investment, continuously improving the conditional order system, providing more trading facilitation tools, investment analysis tools, as well as professional information services, research reports, and other content services to assist users in investing in different categories of gold.

In an uncertain economic environment, young people are striving to find ways to preserve the value of their assets. The rise of gold investment in recent years can be attributed to its stability through numerous economic cycles.

The gold craze among the younger generation may superficially appear as an innovation in financial management, but it is, in fact, a ritual for digital natives to rebuild a sense of security in uncertain times. They measure stability in grams—when gold beans accumulate in electronic accounts, investment takes on a different meaning.

Risk Warning and Disclaimer

The market has risks, and investments should be made cautiously. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial conditions, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investing based on this is at one's own risk