International gold prices fell sharply on March 23, dropping below $4,100 per ounce and wiping out all gains recorded for the year 2026. A visit to the Waterbei gold market in Shenzhen revealed that local gold prices dropped by approximately 60 RMB per gram in a single day. Since last Wednesday, the cumulative decline over the week has approached 200 RMB per gram, setting a historical record. Many merchants reported that after last week’s price correction, a large number of buyers came over the weekend to buy at low prices, leading to strong sales of gold jewelry. However, following today’s sharp decline, many potential buyers have become hesitant to make purchases.