Sou Hu Cai Jing·2025-07-29 08:14Core Viewpoint - The recent decline in gold prices is influenced by U.S. President Trump's call for the Federal Reserve to lower interest rates, which could further impact market dynamics and gold demand [1][5]. Price Movements - On July 28, spot gold prices fell to $3310 per ounce, marking the first drop since July 17 [1]. - Domestic gold jewelry prices also decreased, with brands like Chow Tai Fook and Chow Sang Sang seeing reductions in their gold prices [1][2]. - As of July 29, the price of gold jewelry from various brands has fallen below 1000 yuan per gram, with specific prices reported as follows: - Chow Sang Sang: 978 yuan per gram (down 12 yuan) - Lao Feng Xiang: 998 yuan per gram (down 2 yuan) - Others remained stable or saw minor changes [2][3]. Market Trends - The global gold price saw significant increases earlier in the year due to rising geopolitical tensions, with the London spot gold price rising 24.31% year-to-date as of June 30 [3]. - The average price of gold in the first half of 2025 was reported at $3066.59 per ounce, a 39.21% increase compared to the same period last year [3]. - The Shanghai Gold Exchange reported a similar trend, with Au9999 gold closing at 764.43 yuan per gram, up 24.50% year-to-date [3]. Future Outlook - Analysts suggest that while short-term speculative demand has weakened, long-term support from central bank purchases and financial investments may sustain gold prices [5]. - There is a possibility that the Federal Reserve may lower interest rates more than expected, which could lead to a further increase in gold prices by over 10% by the end of the year [5].