Wendy Zhang/ Shanghai Daily news

With the global gold prices hitting a historic high for 16 years, Shanghai's retail gold jewelry prices increased by at least three yuan (US$0.36) per gram, the Shanghai Morning Post reported today.
According to the Shanghai Gold and Jewelry Trade Association, price for gold jewelries has increased from 132-135 yuan to 138 yuan per gram.
Gold prices continue to increase, with further rises expected in a short term, said an industry analyst with the association, adding that the gold price increases drive up the local jewelry prices.