On the morning of March 23, domestic gold prices fell sharply below the 1000 yuan mark. As of the latest update, the price was reported at 980.08 yuan per gram, representing a daily decline of over 4.7%.

Multiple brands adjusted their pure gold jewelry prices this morning. For instance, Lao Miao Gold's pure gold jewelry was priced at 1363 yuan per gram, down 50 yuan from the previous day's 1413 yuan per gram. Other major jewelers, including Chow Tai Fook, Luk Fook Jewellery, and CHJ Jewellery, also saw their gold prices drop below 1400 yuan per gram.

In response to the market turbulence, the Shanghai Gold Exchange issued a notice today. It stated that numerous factors are currently affecting market stability, leading to significant volatility in precious metals prices. The exchange urged all member units to closely monitor market changes, refine risk contingency plans, and help maintain stable market operations. It also reminded investors to strengthen risk management, reasonably control positions, and invest rationally.

This follows a steep decline in international gold prices over the past week, which recorded the largest weekly drop since March 1983. The downward trend continued on March 23, with spot gold falling below the $4380 per ounce level as of the latest update.