Recently, international gold prices have dropped sharply. The spot price of London gold hit a new low in a year on October 31, hitting an intraday low of 3869.96 US dollars/ounce. The continued weakening of international gold prices spread rapidly to the terminal consumer market. Retail prices of major brands of gold jewellery fell simultaneously. Gold prices for some brands fell by nearly 550 yuan per gram from their peak during the year. Consumer enthusiasm for money purchases was further ignited. On November 1, the reporter saw at the Shenzhen Shuibei Gold and Jewelry Market that there was a surge in traffic in the market, and many wholesalers and tourists made special trips to “hunt for goods.” The screen in the Shuibei Gold and Jewelry Market showed that the price of gold jewelry for the same day was 990 yuan/gram.

Recently, international gold prices have dropped sharply. The spot price of London gold hit a new low in a year on October 31, hitting an intraday low of 3869.96 US dollars/ounce. The continued weakening of international gold prices spread rapidly to the terminal consumer market. Retail prices of major brands of gold jewellery fell simultaneously. Gold prices for some brands fell by nearly 550 yuan per gram from their peak during the year. Consumer enthusiasm for money purchases was further ignited. On November 1, the reporter saw at the Shenzhen Shuibei Gold and Jewelry Market that there was a surge in traffic in the market, and many wholesalers and tourists made special trips to “hunt for goods.” The screen in the Shuibei Gold and Jewelry Market showed that the price of gold jewelry for the same day was 990 yuan/gram.