Abstract: Taking 26 167 gold and jewelry enterprises in Shenzhen as research objects, methods such as kernel density analysis, center of gravity standard deviation ellipse, mean nearest neighbor analysis, and parameter optimal geographic detector method were used to study the spatial evolution characteristics and influencing factors of gold and jewelry industry of Shenzhen. The results show that the spatial differentiation of the gold and jewelry industry of Shenzhen is obvious, showing an "extreme core-multiple core-sporadic" development trend, with jewelry industry parks as the core and distributed in a circular pattern, with a "southeast-northwest" direction as the main distribution pattern. The evolution of the industry presents certain characteristics and phased patterns. From the perspective of the industrial chain, there is a certain similarity in the spatial evolution characteristics of gold and jewelry enterprises that are designed for sales and only for sales, and it is consistent with the overall characteristics of the industry, which is manifested as "the polar nuclear radiation effect gradually strengthening, and the continuous distribution forms multiple nuclei". Overall, both processing and sales oriented enterprises and integrated design, processing and sales oriented enterprises exhibit a "triangular core agglomeration with strong path dependence". The spatial distribution is influenced by multiple factors, with development being the key factor, government being the main factor, technology and talent being secondary factors, and location being the general factor. The interaction between the influencing factors is enhanced, with the jewelry industry park and market demand having the strongest impact.