Soaring silver prices are driving a surge in investor demand, prompting jewelry factories in Chinese mainland to work overtime to produce silver bars.
A Shenzhen silverware factory manager told state broadcaster CCTV that the price of a 1-kilogram silver bar has jumped 10,000 yuan (HK$11,217.74) in just four months, reaching 20,000 yuan. Workers have been working extended hours for months to meet the rising orders, he said.
The factory, once focused on silver jewelry, has shifted to prioritize investment bars, with smaller 100–200 gram bars gaining popularity as craftsmanship and product varieties are expanded to meet rising demand, the manager added.
Silver prices have risen more than 200 percent over the past year, driven by explosive growth in industrial demand and global geopolitical tensions.
The price surge has also created unexpected gains for consumers. In Chengdu, a woman who bought a diamond ring in 2023 for 6,200 yuan found that its resale value has dropped to around 700 yuan, while a silver insulated cup given as a gift with the ring is now worth nearly 2,000 yuan.
