金价，跳水！

Core Viewpoint - The international gold price has been declining significantly, with gold jewelry prices in China dropping below 1000 yuan per gram [2][5]. Price Trends - From July 23 to July 28, COMEX gold futures prices fell for four consecutive trading days, with a cumulative decline of nearly 4% [2]. - On June 28, the London gold spot price closed at 3314.18 USD per ounce, down over 110 USD per ounce from the high on July 22 [5]. - Major domestic gold jewelry brands have seen their prices drop below 1000 yuan per gram, with specific examples including: - Zhou Shengsheng: 994 yuan per gram, down 35 yuan from the high of 1029 yuan on July 23 [5]. - Lao Miao: 995 yuan per gram, down 28 yuan over six days [5]. - Chow Tai Fook: 998 yuan per gram, down 25 yuan over six days [5]. Market Influences - The recent decline in gold prices is attributed to a decrease in demand for safe-haven assets, influenced by easing global trade tensions and economic talks between the US and China [8]. - On July 23, President Trump announced a trade agreement with Japan, reducing auto tariffs, which is seen as a template for future trade policies [8]. - The Federal Reserve's stance on interest rates is also impacting gold prices, with expectations that rates will remain unchanged, which may lead to mixed market reactions [9]. Historical Context - In the first half of 2025, global conflicts increased demand for gold, leading to a significant price rise. By the end of June, the London gold price had increased by 24.31% compared to the beginning of the year [5]. - The average gold price for the first half of 2025 was 3066.59 USD per ounce, up 39.21% year-on-year [5]. Analyst Insights - Analysts suggest that while gold may experience short-term declines due to shifting interest towards silver and copper, the fundamental reasons for gold's strength as a safe-haven asset remain unchanged [9].