The price of gold has fallen and wait-and-see sentiment has emerged
2024-05-08
Recently, the soaring price of gold seems to have hit the brakes. During the May Day holiday, the international market gold price continued to be sluggish, with the New York market gold price briefly falling below $2300 per ounce during trading, a cumulative correction of nearly 5% from the previous high. Affected by the decline in international gold prices, terminal gold prices have also experienced a significant decline. The price of jewelry gold has generally declined, with some reaching as low as "5 words". Journalists visiting gold stores found that the price of jewelry gold has also generally declined. After stacking discounts, the price of jewelry gold in some gold stores has fallen to below 700 yuan per gram, and even some gold jewelry brands have reached "5 words". Faced with this situation, consumers with a demand for gold breathed a sigh of relief, while some consumers showed a wait-and-see attitude. Analysis indicates that a brief decline in gold prices is an inevitable phenomenon, but in the future, gold prices will show a trend of first suppressing and then rising. It is reported that on May 6th, the price of Laofengxiang gold was 708 yuan/gram, and after reducing the price by 50 yuan, the final price was 658 yuan/gram; Chaohongji has a discount of 80 yuan and the final price is 629 yuan per gram; The price of Zhou Shengsheng gold is 705 yuan/gram, and after deducting 50 yuan per gram, the final price is 655 yuan/gram. "Our 'May Day' holiday gold jewelry has a direct reduction of 55 yuan per gram, and the actual selling price is about 650 yuan per gram. However, overall, many customers are still feeling 'meat pain'. The sales of gold jewelry during the holiday have increased by more than 3% compared to last year, and apart from the increase in gold prices, it will be a tie. Looking back at the holiday sales situation, Dai Chongye, the business manager of Guangzhou Dongshan Department Store, said that after all, the wedding market was hot last year, and it was also a good year for the 'Double Spring Leap Month'. After discounts during last year's' May Day 'holiday, the price of gold jewelry was about 530 yuan/gram, and sales were skyrocketing. He said,' It's already good to have such results during this year's holiday. '" The sales revenue of Dongbai Gold increased by nearly 10% during the May Day holiday, mainly due to the increase in investment in gold bars, and the increase was mainly due to the decline in gold prices, "The price has dropped from over 580 yuan per gram to 548 yuan per gram, and it dropped to 545 yuan per gram on May 6th," according to Dai Chongye. Currently, consumers mainly consider investment, preservation, and appreciation when purchasing gold. However, during holidays, relatively speaking, among the major categories of gold jewelry consumption, wedding gold jewelry still ranks high in sales, with categories such as gold bracelets, gold bracelets, and rings ranking high in sales. The recycling business has returned to normal levels as gold prices have fallen. It is worth noting that some consumers have seized the opportunity of high gold recycling before the holiday. As the price of gold fluctuates greatly, more people tend to be wait-and-see. "Before the May Day holiday, our physical gold recycling was popular for a long time, and there were many profitable neighbors. Some investors' harvested 'it, while others took advantage of the high gold prices to sell all their old gold jewelry, waiting for the gold prices to fall and buy new ones or buy investment gold bars. According to Dai Chongye, some consumers bought 100 grams of gold when the investment price was less than 380 yuan/gram. On April 29th before the May Day holiday, they sold at a price of 540 yuan/gram, making a net profit of over 16000 yuan.". Cao Yanping, Director of the Spot Department of Guangdong Yuebao Gold Group's Gold Trading Center, also stated that with recent signs of a decline in gold prices compared to last month's high, the recovery business
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