The Shanghai Gold Exchange issued a notice on March 23 regarding strengthening market risk control measures. Numerous factors are currently contributing to market instability, leading to significantly increased volatility in precious metals prices. Market participants are advised to closely monitor price movements, refine risk contingency plans, and ensure stable market operations. The exchange also reminded investors to enhance risk prevention, manage positions appropriately, and invest rationally.

Related developments: International gold prices experienced a sharp decline on March 23, with spot gold falling below $4,350 per ounce to its lowest level since early January, marking a 3.25% drop for the day. Domestic gold prices broke through the 1,000 yuan threshold within three minutes of market opening on March 23, settling at 990 yuan per gram by press time. This follows a week of steep declines in international gold prices, with spot gold falling below $4,500 per ounce last Friday for the eighth consecutive trading day.

The slump in international gold prices has correspondingly pulled down prices of domestic gold jewelry brands. Chow Tai Fook's website showed its pure gold jewelry price at 1,397 yuan per gram on March 21, down 50 yuan from the previous day's 1,447 yuan. Chow Sang Sang's pure gold jewelry was quoted at 1,389 yuan per gram, a decrease of 54 yuan from the previous day. Other major brands including Luk Fook Jewelry and Lao Feng Xiang also saw prices fall below 1,400 yuan per gram. Compared with late January when gold jewelry prices generally exceeded 1,700 yuan per gram, prices have dropped by over 200 yuan per gram in less than two months.