Huan Qiu Wang·2026-02-02 03:07Market Overview - The precious metals market experienced extreme volatility, with international gold prices plummeting from historical highs, leading to significant impacts on domestic futures, stocks, funds, and consumer markets [1] - On January 30, international gold prices fell sharply, losing over 11% in a single day, while silver prices dropped by 31.37%, marking the worst single-day performance since March 1980 [1] - Weekly performance showed a cumulative decline of 4.71% for gold and 22.50% for silver [1] Price Movements - Domestic gold prices also saw a significant drop, with the Shanghai Gold Exchange spot gold price falling to 1070.01 RMB per gram, a decrease of around 10% [3] - Major brands adjusted their gold jewelry prices from over 1700 RMB per gram to between 1500-1600 RMB per gram [3][4] - For instance, Chow Sang Sang reported a drop in the price of its gold jewelry from 1708 RMB to 1618 RMB per gram within two days [3] Consumer Behavior - Following the price drop, there was a surge in consumer interest in purchasing gold, particularly in Shenzhen's Shui Bei market, where prices fell below 1200 RMB per gram [6] - Many consumers expressed that buying gold now is significantly cheaper compared to previous days [6] Investor Reactions - Investors are increasingly concerned about further declines in precious metal prices, leading many to sell gold and silver items to cash out [10] - Reports indicated that some businesses experienced a rapid decline in gold buyback prices, with a drop from 1142 RMB to 1081 RMB per gram in just one day [10] - The volatility in gold prices has led to a cautious approach among investors, with many hesitating to sell due to fears of missing potential price recoveries [10] Market Supply Dynamics - Some suppliers in Shenzhen's Shui Bei market reported shortages of gold bars, attributing this to the recent price drop and the reluctance of suppliers to sell at lower prices [12] - Suppliers indicated that they are not willing to sell gold bars during such volatile conditions, leading to a decrease in available inventory [12] Banking Sector Adjustments - Several major banks, including ICBC, ABC, and CCB, have adjusted their gold investment services in response to the market volatility, issuing risk warnings to investors [14][16] - ICBC announced changes to its gold accumulation business, including limits on transactions during non-trading days [15] - CCB raised the minimum amount for personal gold accumulation to 1500 RMB, reflecting the increased market risks [16][19]