Stock Track | LAOPU GOLD Plummets 10.72% Intraday as Gold Prices Fall and Jewelry Demand Weakens

Stock Track

03/23

LAOPU GOLD (06181) saw its stock price plummet 10.72% during intraday trading on Monday, reflecting a broad decline in gold-related stocks.

The drop comes as international gold prices fell below $4,400 per ounce, leading domestic jewelry brands to adjust their pure gold product prices downward. For instance, Lao Miao Gold's pure gold jewelry price decreased by 50 yuan per gram to 1,363 yuan.

Analysts note that sustained high gold prices have significantly dampened consumer demand for gold jewelry in China, while demand for investment products like gold bars and coins has risen. This shift in consumer preference, coupled with falling gold prices, has pressured jewelry stocks like LAOPU GOLD.

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