A video of a Beijing grandfather purchasing zodiac gold bars for his grandson has recently sparked widespread discussion online. The grandfather explained that he buys these bars annually as gifts for his grandson, each time separately purchasing a box for presentation. Having already acquired eight bars for his eight-year-old grandson, his latest purchase was a 20-gram bar.
He further emphasized his commitment to buying these bars irrespective of gold price movements, expressing his desire to complete the full twelve-zodiac collection during his lifetime. As an elder family member, he wishes to leave something meaningful for the child.
The grandfather's sentiment generated considerable envy among netizens, with one commenter humorously inquiring, "Grandpa, are you by any chance looking for another grandson?"
Another user responded to the thread suggesting, "Please form an orderly queue if you're interested."
Some commentators noted that the essence of being a good grandfather lies not in the ability to purchase gold bars, but in the expression of love and care for grandchildren.
Recent market conditions have seen gold and silver prices experience significant volatility, first surging then plummeting. This raises the question of how ordinary investors should interpret this rollercoaster market behavior.
On the morning of February 2nd, spot gold prices plummeted sharply, breaking below $4,600 per ounce during trading sessions with declines exceeding 6%.
Spot silver saw its intraday losses widen to 10%, trading at $76.89 per ounce.
Market data shows Chow Sang Sang's pure gold jewelry priced at 1,484 yuan per gram, representing a decrease of 134 yuan from the previous day's price of 1,618 yuan.
Retail sales staff from certain gold brands have issued statements in social media groups clarifying that returns due to price reductions are unacceptable, with all return requests subject to a standard 500 yuan deduction. Physical gold stores typically implement strict no-return policies after customers leave the premises with their purchases.
Online return policies demonstrate greater complexity, varying significantly across different platforms and brands. Most platforms and brands explicitly prohibit returns for investment gold products like gold coins and bars. Regarding gold jewelry, some brands impose strict 24-48 hour return windows after delivery receipt, contingent upon products remaining in resalable condition.
To address potential hesitation caused by market volatility, certain brands and platforms have established specific return regulations: refunds processed after shipping label creation or dispatch are subject to 1%-5% order value deductions covering handling fees and shipping costs. Some brands permit refund applications within 15 minutes of successful payment for gold bars, automatically rejecting requests beyond this timeframe.
Social media platforms contain numerous user reports of deduction experiences, including instances where customers faced four-figure deductions for returning gold bar products. While some consumers acknowledge the investment nature of gold and accept handling fees, many consider the 5% deduction rate disproportionately high. Several noted insufficient prominent warnings about deduction policies during refund processes, with return rules typically buried in product description pages.
The legal foundation and industry conventions supporting these regulations warrant examination.
Peng Zelong, attorney at Guangdong Shenxiang Law Firm, clarifies that under Consumer Rights Protection Law, gold jewelry and bars purchased from physical stores generally don't qualify for seven-day no-reason returns. Online-purchased investment gold bars typically carry "no seven-day return" labels, with judicial practice recognizing them as "products unsuitable for return based on nature." For gold jewelry, return eligibility depends on explicit labeling regarding return policies and potential handling fee agreements.
Attorney Peng emphasized, "Unconditional returns would enable consumers to arbitrage gold through online purchases, transferring risks to brands and platforms. Platforms should enhance pre-purchase notification pop-ups to fulfill warning obligations."
Zhao Xijun, co-dean of the China Capital Market Research Institute at Renmin University of China, advises ordinary retail investors to adopt conservative investment approaches given the difficulty in precisely timing gold price movements. He cautions against speculative "gambling-style investments" and advises maintaining diversified portfolios without concentrating all investment capital in single assets or affecting essential living expenses through speculative activities.
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