Chinese cash in jewellery at automated gold recyclers as prices soar

Shanghai (AFP) Feb 1, 2026
Dozens of people crowded around an automated gold recycling machine at a Shanghai mall, hoping to melt down family heirlooms for cash as prices of the precious metal hit record highs. China is the world's largest consumer of gold, which is traditionally purchased by families to mark special occasions like births and weddings. But as prices soared to a fresh high near $5,600 on Thursday,