Beijing Caishikou Department Store (SH:605599) Xin Lang Cai Jing·2026-02-03 06:11Core Viewpoint - Recent fluctuations in spot gold prices have led to increased activity in gold buying and selling among investors, with significant queues observed at Beijing's Cai Bai for gold repurchase and purchase transactions [1][14][15]. Price Fluctuations - On January 29, spot gold prices peaked at $5,598.75 per ounce, but dropped to $4,402.06 per ounce by February 2, marking a decline of 21.37% within three days [1][14]. - As of February 3, the price rebounded to $4,815 per ounce, reflecting an increase of approximately 3.36% [1][15]. Investor Behavior - Many investors are opting to sell gold bars or jewelry due to the rapid price decline, with reports of nearly 200 people queuing at Cai Bai for repurchase on February 2 [3][15]. - A specific case involved an investor selling 2,000 grams of gold bars for approximately 2.12 million yuan, with a repurchase price around 1,060 yuan per gram [5][17]. Repurchase Policies - Cai Bai has implemented daily limits on gold repurchase, ceasing operations once the limit is reached. On February 1, the total repurchased was about 33 kilograms [7][19]. - Starting February 6, Cai Bai will adjust its repurchase rules, including suspending operations on weekends and holidays, and introducing limits on repurchase amounts [7][19]. Market Sentiment - Despite the selling pressure, there is also a notable interest in purchasing gold, with many customers actively buying gold bars at Cai Bai [8][20]. - A young investor plans to buy 450 grams of gold in one go, reflecting a shift in investment strategy among some individuals [10][22]. Expert Opinions - Experts suggest that the decision to sell or hold gold should depend on individual investment strategies and market conditions. Short-term traders may consider selling to manage risks, while long-term holders might view recent price drops as a technical correction [12][24]. - Analysts indicate that the fundamental support for gold prices remains intact, with factors such as a weak dollar and declining global interest rates continuing to support gold [25].