Zhaoyuan, known as "China's gold capital," is attracting thousands of visitors as gold prices surge to record highs above $4,400 per troy ounce.

With a mining history spanning over 1,000 years, the city seamlessly blends heritage and tourism, offering gold panning experiences and vast malls that sell bullion and jewelry. During China's Golden Week in October, Zhaoyuan welcomed nearly 40,000 visitors daily.

Yet rising prices and the removal of tax rebates on gold jewelry have hurt local businesses, while weak consumer sentiment has led to store closures nationwide. Experts warn that gold is a finite resource, making economic diversification beyond precious metals essential for Zhaoyuan's future.

This video summary was created by AI from the original DW script. It was edited by a journalist before publication.