Sou Hu Cai Jing·2026-01-31 09:40Group 1 - The nomination of Kevin Warsh as the Federal Reserve Chairman by President Trump has triggered hawkish market expectations, leading to panic selling in precious metals [1][3] - Gold and silver prices experienced significant volatility, with silver dropping as much as 35.89% and gold falling 12.92%, reaching a low of $4682 per ounce [1] - As of the close, gold was reported at $4880.034 per ounce, marking a 9.25% decline, the largest single-day drop since April 1, 1980 [1] Group 2 - The sharp decline in gold prices has led to a corresponding drop in domestic gold jewelry prices, with brands like Chow Tai Fook and Lao Feng Xiang reporting significant overnight price reductions [5] - Retailers have implemented strict return policies, with some stating that returns will incur a fee of 500 yuan, emphasizing that customers must take responsibility for their purchases [5][6] - The market for gold recovery has cooled due to the price drop, with consumers becoming more hesitant to sell, although some platforms have reported a surge in inquiries about selling gold [8][10] Group 3 - Consumers have reported issues with transparency in gold recovery transactions, including unexpected fees and discrepancies between promised and actual payout amounts [12][13] - The gold recovery process is often complicated by hidden fees and unclear pricing structures, leading to consumer complaints about high charges and misleading practices [14] - Experts advise consumers to be cautious and informed about the gold recovery process, recommending that they understand market prices and fees before engaging in transactions [14]