Sou Hu Cai Jing·2026-02-02 04:42Core Viewpoint - The gold market experienced a significant drop in prices, with gold falling from 1252 CNY/g to 1142 CNY/g in a matter of minutes, marking a decline of over 9% on January 30, the largest single-day drop since 1983 [1][16]. Market Reaction - Following the price drop, many investors rushed to sell their gold holdings, with some reporting substantial profits from timely sales [1][5]. - The Shenzhen Shui Bei market saw a surge in activity, with some vendors selling gold bars worth millions in a single day, while others faced stock shortages due to high demand [3][8]. Price Trends - On February 1, gold prices were reported at 1262 CNY/g, with a recovery price of 1080 CNY/g, while silver prices were at 30.6 CNY/g, down from previous highs [5][10]. - The price of gold jewelry also saw a significant decline, with major brands reporting drops of up to 160 CNY/g within two days [14]. Investor Behavior - Some consumers opted to buy gold at lower prices, believing in its long-term value, while others were quick to sell due to market volatility [6][12]. - The market showed a mix of panic selling and opportunistic buying, with many investors expressing uncertainty about future price movements [8][10]. Institutional Response - Several banks have increased risk assessments for clients engaging in gold transactions, reflecting heightened market volatility and uncertainty [15]. - Analysts noted that the recent price drop was driven by an overheated market and external factors such as declines in the stock market, particularly following disappointing earnings reports from major companies [16].