Gold loses sparkle for wary buyers in China's jewellery hub

Shenzhen

AS Chinese consumers cut back on gold purchases for a second year in a row, nowhere is the slowdown being felt more than in the country's once-bustling jewellery manufacturing and retail hub of Shuibei.

Gold demand has taken a hit from a slowing economy and Beijing's anti-corruption drive, which has cut demand for luxury products, but there are fears of a more protracted loss of confidence among buyers in the world's top consumer of the precious metal.