International News
Gold hits ten-day highs above $4,050
Gold climbs above $4,050 to a ten-day high as uncertainty over the prolonged US government shutdown, soft economic data, and a weaker dollar drive renewed safe-haven demand.
Gold extended rebound in Asian trading on Monday, briefly crossing the $4,050 psychological mark to touch a ten-day high. The yellow metal’s momentum comes as traders await clarity on the resolution of the record US government shutdown, which has heightened concerns over the broader US economy.
While gold consolidates its recent gains, risk sentiment has seen a mild improvement amid optimism about the US government reopening and China’s move to temporarily suspend its export ban on certain dual-use materials, including gallium, germanium, and antimony.
However, investors remain cautious as the amended US spending package still requires approval from the House of Representatives before reaching President Donald Trump for signing — a process that could take several days. This uncertainty, coupled with persistent economic worries stemming from the prolonged shutdown, continues to lend support to gold as a traditional safe-haven asset.
A weakened US dollar and worries over a protracted US government shutdown continue to bolster the precious metal, increasing demand for safe-haven assets. Indeed, according to the Congressional Budget Office, which is impartial, the government shutdown could reduce GDP by 1 – 2% in the fourth quarter.
As U.S. data revealed a spike in October layoffs, traders also boosted their bets on a December rate decrease, they are now putting in a 67% possibility. The government and retail sectors experienced employment losses in October, and enterprises’ use of artificial intelligence and cost-cutting measures resulted in a spike in announced layoffs. According to private data released on Thursday, cost-cutting and the deployment of AI were the main causes of the US economy’s October job loss of 153,000, the most in 22 years.
International News
Kering Invests in China’s Gold Jewelry Surge as Laopu’s Explosive Growth Reshapes Market
Heritage-gold brands Borland and Lamchiu secure major funding amid soaring demand, fueled by Laopu’s meteoric rise and China’s booming 24-karat segment.
A wave of investor interest is sweeping through China’s gold jewelry sector as the rapid rise of Laopu Gold Co. galvanizes confidence in the country’s high-end heritage gold market. The latest beneficiary is Borland, a Hangzhou-based jeweler known for its traditional filigree craftsmanship, which this week announced more than 100 million yuan ($14 million) in new funding.
The investment round includes contributions from Kering Ventures, the startup arm of luxury group Kering SA, and Shunwei Capital, co-founded by Xiaomi chairman Lei Jun. Kering noted that its minority stake enables participation in the “rapid development of a particularly buoyant 24-karat gold jewelry segment,” reflecting growing appetite for culturally rooted premium gold pieces.
Meanwhile, Dayone Capital has made a separate investment exceeding 100 million yuan in Lamchiu, a Lanzhou-based maker of handcrafted bespoke gold jewelry. The firm will support Lamchiu in expanding distribution and reinforcing the brand’s supply-chain capabilities.
The surge of capital follows the remarkable ascent of Laopu, which has become one of China’s breakout jewelry success stories. The company reported 12.4 billion yuan in revenue in the first half of 2025 — a year-on-year increase of over 250%, building on 168% growth from the previous year. Laopu’s momentum has outpaced Western luxury houses struggling with softer China demand.
Heritage gold jewelry — deeply rooted in Chinese aesthetics and traditional techniques like filigree — is attracting a new generation of luxury consumers. Brands like Laopu, which operate in top-tier malls, increasingly compete with global maisons such as Hermès and Cartier for clientele.
Despite strong digital followings, newer brands still face distribution gaps. Borland operates only three mall stores, while Lamchiu, despite amassing more than 1 million followers on Douyin, runs just one physical outlet in Lanzhou. Both companies plan to use their fresh funding to accelerate expansion and strengthen operational infrastructure.
The latest investments signal rising confidence that China’s heritage-gold renaissance is evolving from a trend into a long-term luxury category shaping the future of the jewellery market.
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