Global Gold Prices Decline Over 5% in Half a Month as Domestic Jewelry Rates Fall and Banks Take Action

Deep News
03/18

International gold prices have dropped more than 5% over the past half-month. In the domestic market, branded gold jewelry prices have fallen for multiple consecutive days, with banks frequently adjusting policies. On March 2, the spot price of gold in London reached an intraday high of $5,419.32 per ounce but subsequently retreated significantly and trended downward. As of the latest update, gold has declined over 5% since the beginning of March. Domestic branded gold jewelry prices have continued to fall. As of March 18, Chow Tai Fook's pure gold jewelry was quoted at 1,551 yuan per gram, down 0.39% from the previous day, while Lao Miao Gold's pure gold jewelry was priced at 1,552 yuan per gram, a decrease of 0.51%. Recently, international gold prices have been volatile at high levels, increasing market risks. Multiple banks have adjusted their accumulation gold trading rules, implementing daily total quota management and raising the minimum purchase threshold to between 1,300 and 1,500 yuan. Some institutions have shifted to "dynamic limits," and certain banks may even implement "temporary market closures." Regarding future gold price trends, Cao Shanshan, a senior researcher at the COFCO Futures Institute, noted that tighter-than-expected global monetary policies are suppressing the gold bull market cycle, weakening geopolitical risk premiums, and disrupting previous trends. Increased crude oil supply has offset price pressures, reducing the联动 effect between oil and gold prices. As a result, gold lacks strong upward momentum and exhibits weaker price movements. Are you still considering investing in gold recently? (Note: This article does not constitute any investment advice.)

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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