Gold Prices Have Risen Significantly Over The Past 12 Months. Is This A Good Time To Buy Your Si Dian Jin?

What are the financial considerations of buying si dian jin (四点金)

Amidst the changing tides of time, the si dian jin (四点金) tradition stands steadfast, a symbol woven into the fabric of Chinese weddings. Over the past year, gold prices have seen a notable rise, prompting reflection on the timeless practice of acquiring these precious heirlooms. As the golden glow captivates, we delve into the consideration of whether now, is a good time to buy your si dian jin or should you look at other alternatives instead.

Understanding the tradition behind Si Dian Jin

In Chinese tradition, when a couple gets married, the groom’s family will give the bride si dian jin as a part of the betrothal gifts to the bride’s family during guo da li (过大礼) – an important occasion for the groom to officially ask the bride’s parents for their daughter’s hand in marriage. The general consensus is that Chinese families in Singapore would expect a set of jewellery to be given. The set typically consists of four pieces of gold jewellery: a necklace, a ring, a bangle, and a pair of earrings.

Read also: Guide To Understanding Si Dian Jin And Where To Get Them

Gold price over the past 5 years

As we can see from the chart above (XAU/USD), gold prices have skyrocketed over the past 5 years, specifically since the COVID-19 pandemic. This will, in turn, make buying si dian jin more expensive. Keep in mind that when buying your si dian jin, because it is a set of jewellery instead of a simple bar of gold, there are additional workmanship costs that can add up easily. Currently, gold prices are near all-time highs, and with the current economic situation, it might continue to climb higher as inflation is still high.

Will Gold prices continue to rise?

Over the past century, gold has consistently earned its reputation as a reliable haven asset, closely tied to the US Dollar and serving as a prevalent form of currency, particularly in times of conflict. With its finite supply, the trajectory of gold’s value appears poised for continued growth, contingent upon its sustained demand and international recognition as a valuable asset.

Furthermore, gold has exhibited a historical correlation with inflation, offering a hedge against the erosion of purchasing power. This aspect is particularly significant in the current economic landscape, where inflation rates have remained elevated since the onset of the pandemic. As a result, the confluence of factors, including its intrinsic scarcity and resilience against inflation, suggests a plausible scenario for the ongoing ascent of gold prices.

If you think an economic recession is on the rise, then you can be sure that gold prices will continue to rise steadily. On the other hand, if you think the economy will continue to thrive with no recession in sight, then you can expect gold prices to come down in the near term, but ultimately will still go higher over time.

Should you buy now, wait, or look for alternatives?

So should you buy your si dian jin now, wait for prices to become cheaper, or perhaps look for alternatives to replace your si dian jin? Because gold prices will inevitably increase, there is no better time than now. Additionally, couples nowadays find themselves at the crossroads of tradition and modernity, pondering not only when but also how to make this significant purchase. While the allure of gold remains timeless, a contemporary wave is sweeping through, prompting couples to reconsider the traditional set of gold jewellery.

In this era, where individuality and personal expression take centre stage, many are exploring alternatives beyond the shimmering embrace of gold. Imagine adorning yourself with the serene elegance of Jade or the classic sophistication of Pearls. Picture the everlasting sparkle of Diamonds capturing the essence of your commitment. But it doesn’t stop there – some couples are even venturing into the realms of luxury bags and watches, envisioning these items as enduring symbols of their love story.

Traditionally, si dian jin sees its moment in the spotlight on the wedding day, only to find itself tucked away afterwards. However, the modern approach challenges this convention, advocating for items seamlessly integrating into daily life. It’s not just about the wedding; it’s about weaving these precious elements into the fabric of your everyday journey. The modern mindset leans towards versatility, encouraging couples to choose items that don’t just symbolize luxury but can be worn and cherished in the rhythm of daily existence.

Words from author

So, as you stand on the threshold of this decision, consider not only the timing of the purchase but also the narrative it unfolds. Whether you opt for the classic embrace of gold or venture into the realms of alternative treasures, let your si dian jin be a reflection of your unique love story – a story that resonates with tradition but is written in the vibrant ink of the contemporary world. It is a testament to enduring traditions and lasting values, deciding to acquire this cherished heirloom.