On March 23, within just three minutes of the market opening, the domestic gold price fell below 1,000 yuan. According to media reports, the price of gold jewelry in China also declined, with Laomiao Gold's pure gold jewelry dropping to 1,363 yuan per gram, a decrease of 50 yuan from the previous day's price of 1,413 yuan per gram.

The Shanghai Gold Exchange issued a notice on March 23 regarding market risk control, stating that recent fluctuations in precious metal prices have intensified significantly. The exchange urged all member institutions to closely monitor market changes, refine risk contingency plans, and ensure stable market operations. Additionally, investors were advised to strengthen risk management, maintain reasonable position sizes, and invest rationally.