Chinese jewelers and smaller firms in the gold sector are poised to be the hardest hit by recent tax changes announced over the weekend.

These changes eliminate long-standing incentives that previously benefited some retailers of the precious metal.

As a result, many businesses within this industry may face increased financial pressure moving forward.
https://www.bloomberg.com/news/articles/2025-11-03/chinese-jewelers-to-bear-the-brunt-of-tax-changes-for-gold