Sou Hu Cai Jing·2025-06-28 03:31Current Gold Price Dynamics - The latest price for Chow Sang Sang's gold jewelry is 984 CNY per gram as of June 28, 2025, down 12 CNY from the previous day and a total decline of 21 CNY over three days [1] - Other brands such as Chow Tai Fook, Lao Miao Gold, and Luk Fook Jewelry have also seen prices drop to the range of 992–1000 CNY per gram [1] International Gold Price Trends - On June 28, COMEX gold futures fell to 3286.1 USD per ounce, with a single-day decline of 1.85% and a weekly drop of 2.92% [2] - The decline in international gold prices is attributed to the easing of tensions in the Middle East, reduced expectations for interest rate cuts by the Federal Reserve, and a strengthening dollar, leading to decreased safe-haven demand [2][3] Reasons for Price Decline - Geopolitical risks have diminished, with the Middle East ceasefire agreement reducing gold's safe-haven appeal, prompting funds to shift towards riskier assets like oil and stocks [3] - The Federal Reserve has indicated that it may only cut interest rates twice in 2025 (or not at all), leading to a rebound in U.S. Treasury yields and increasing the opportunity cost of holding gold [4] - Technical selling pressure was triggered as gold prices fell below a key support level of 3360 USD per ounce, resulting in algorithmic trading sell-offs [5] - Market sentiment has shifted, with previous rapid price increases creating risk premiums, and the recent pullback being viewed as a price correction [6] Consumer and Market Reactions - There has been a resurgence in gold purchasing demand, with markets like Shenzhen Shui Bei attracting consumers to buy small gold items, and sales of bangles increasing by 15% [7] - Increased selling of old jewelry for cash has been observed as consumers take advantage of the price drop [8] - A trend towards alternative consumption has emerged, with newlywed couples opting for "rental gold jewelry" or choosing lower-cost products priced by weight [9] Investment Recommendations - Analysts suggest a cautious short-term outlook, indicating that gold prices are still in an adjustment phase, with 3000 USD per ounce (approximately 700 CNY per gram) being a critical support level [10] - In the long term, there is a bullish outlook due to global central banks increasing gold reserves (95% of central banks plan to continue purchasing gold in the next year), which may support mid to long-term prices [11] - A note on premium pricing: Brand gold jewelry processing fees exceed 200 CNY per gram (e.g., traditional craftsmanship), suggesting lower value retention, and recommending prioritization of gold bars or low-premium jewelry [11] Major Brand Price Comparison - As of June 28, 2025, the following are the latest prices for gold jewelry from major brands: - Chow Sang Sang: 984 CNY per gram, down 12 CNY [1] - Chao Hong Ji: 998 CNY per gram, unchanged [1] - Chow Tai Fook: 992 CNY per gram, down 16 CNY [1] - Lao Miao Gold: 999 CNY per gram, down 8 CNY [1] - Chow Tai Fook: 998 CNY per gram, down 14 CNY [1] Future Outlook - Short-term volatility is expected to continue, influenced by signals from Federal Reserve policy changes (e.g., unemployment data) and recurring geopolitical conflicts [12] - Long-term support factors include central bank gold purchases, weakening dollar credibility, and inflation concerns, which remain favorable for gold [12]