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Hongkongers snap up silver as gold becomes 'too expensive'
- On Thursday, gold reached a record of more than $5,588 an ounce, prompting Hong Kong residents to buy silver bars as gold became too expensive.
- Amid rising geopolitical friction, Samuel Tse, economist at DBS Bank, said tensions and inflation drive precious metals demand, while Chen warned, "All of this hinges on market reactions... these developments are inextricably linked to the European and American markets, and Trump."
- Queues formed as Ken Wong, 65, queued from 5 am to buy five bars, Meran Jawad waited since around 6 am, and Michael Ko sold gold stored several years ago.
- A local jewellery company employing nearly 20 workers has cut gold stock and shifted orders toward silver to meet rising demand this month, while retirees and other investors sell bullion to reallocate holdings.
- Market positioning by central banks and investors reflects that `central banks are now diversifying their portfolio to gold,` Tse said, as silver hit over $119 an ounce this year.
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Hong Kong Free PressReposted by 
The Straits Times
The Straits TimesHongkongers snap up silver as gold becomes ‘too expensive’
By Tommy Wang Hong Kong residents hoping to cash in on a precious metals rally are buying up bars of silver as an alternative to gold that they say has become “too expensive” after reaching record highs. Customers buying gold and silver at a shop in Sheung Wan on January 20, 2026. Photo: Kyle Lam/HKFP. After a precious metals shop in Hong Kong’s central business district announced that hundreds of silver bars had sold out for the day on Wednesda…
·Hong Kong, Hong Kong
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Coverage Details
Total News Sources34
Leaning Left4Leaning Right4Center7Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 27%
C 46%
R 27%
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