Core Viewpoint - Despite a decrease in market risk aversion, there remains support for gold bulls, raising questions about short-term selling opportunities [1] Group 1 - The demand for safe-haven assets has diminished, indicating a shift in market sentiment [1] - Gold prices may still find support due to underlying bullish factors, suggesting potential resilience in the market [1] - Analysts are closely monitoring short-term trading strategies, particularly regarding potential short positions in gold [1]

Economic Indicators - In April, US durable goods orders fell by 6.3% month-on-month, indicating a decline in corporate investment sentiment due to uncertainties in tariff and tax policies [1] - The US PCE price index recorded a year-on-year increase of 2.1% in April, marking the lowest level since March 2021 [1] - The 10-year US Treasury yield decreased by 2.06% week-on-week, reflecting a downturn in consumer and business spending [1] Tariff Policies - On May 28, the US International Trade Court ruled that tariffs imposed by Trump under the International Emergency Economic Powers Act were overreaching, halting several trade policies announced on "Liberation Day" [1] - The following day, the US Court of Appeals temporarily stayed the trade court's order, allowing Trump's tariff policies to continue [1] - The Trump administration announced an increase in tariffs on imported steel and aluminum from 25% to 50% starting June 4, prompting the EU to prepare countermeasures [1] Market Reactions - The volatility in domestic tariff policies and escalating trade tensions between the US and EU, along with the Russia-Ukraine conflict, have significantly heightened market risk aversion [1] - Due to the impact of tariffs and the low base effect expected in 2024, the market anticipates a resurgence of inflation in the US by June, which may support a rebound in gold prices [1] - Investors are advised to consider accumulating gold ETFs (518800) during price corrections [1]

Core Viewpoint - Domestic gold jewelry retail prices have returned to over 1000 yuan per gram, indicating a significant increase in gold prices in the market [1][4]. Group 1: Domestic Gold Prices - As of May 21, the retail price of gold jewelry in China has surpassed 1000 yuan per gram, with Lao Miao Gold reporting 1004 yuan per gram, an increase of 27 yuan from the previous day, and Liufu Jewelry at 1008 yuan per gram, up by 26 yuan [1]. - Other brands such as Lao Feng Xiang and Zhou Sheng Sheng also have their gold jewelry prices exceeding 1000 yuan per gram [1]. Group 2: International Gold Prices - On May 21, the spot gold price exceeded 3300 USD per ounce for the first time since May 9, with a daily increase of 0.35%. COMEX gold reached 3316.8 USD per ounce, marking a daily rise of 0.61% [1]. Group 3: Market Sentiment and Influences - A surge in A-share gold concept stocks was observed, with Shan Jin International rising over 3%, alongside increases in other gold-related stocks such as Sichuan Gold and Shandong Gold [4]. - The comments from the Atlanta Fed President, Raphael Bostic, suggest a cautious approach to interest rate cuts, which may influence gold prices amid inflation and recession concerns [4]. Group 4: Geopolitical and Economic Factors - Intelligence reports indicate potential military actions by Israel against Iran's nuclear facilities, contributing to market volatility and influencing gold price trends [5]. - Analysts predict that gold prices will experience high volatility in the short term due to ongoing geopolitical risks and economic uncertainties, with a long-term upward trend driven by inflation concerns and central bank gold accumulation [5]. - UBS strategists expect the Federal Reserve to continue lowering interest rates, which is a key factor supporting gold prices, with projections for gold to reach 3500 USD per ounce by the end of the year, and potentially 3800 USD per ounce in a risk-off scenario [6].

Group 1 - International spot gold prices experienced a significant drop, falling over 2% to a low of $3,220 per ounce, with COMEX gold futures hitting a low of $3,228 per ounce, down $281.6 from the historical high of $3,509.9 per ounce on April 22, representing a decline of over 8% [1] - Domestic gold jewelry prices have also decreased, with brands like Lao Miao and Chow Tai Fook adjusting their prices to 995 yuan per gram and 1,009 yuan per gram respectively, marking the first time in 20 days that prices fell below 1,000 yuan [1] - In Shenzhen, a major gold jewelry hub, prices dropped to 780 yuan per gram, and merchants are offering discounts on processing fees to attract customers during the holiday [3] Group 2 - The decline in gold prices is attributed to multiple factors, including a reduction in demand for safe-haven assets due to easing international trade tensions, and profit-taking by investors amid high market sentiment [3] - Ahead of the Labor Day holiday, Chinese traders sold nearly 1 million ounces of gold futures and spot gold, leading to a decrease in total holdings compared to historical highs [3] - Despite the short-term decline, long-term market conditions, including ongoing risk aversion and expectations of interest rate cuts, are expected to support gold prices [5] Group 3 - The recent volatility in gold prices has prompted exchanges to take notice, with the Shanghai Futures Exchange adjusting trading fees and margin levels for gold futures contracts [6] - Several domestic gold ETFs have suspended subscription and redemption services, advising investors to be cautious of short-term trading risks [6] - Experts believe that while gold is currently experiencing a pullback, it remains in a trend of oscillating upward, supported by market demand for safe-haven assets and rising inflation risks in the U.S. [6]

Group 1 - The core point of the news is the significant drop in gold prices, with spot gold falling over $50 to below $3240, closing at $3233.21 per ounce, a decrease of 1.67% [1] - Multiple gold jewelry brands have lowered their prices, with notable prices being 995 CNY per gram for Lao Miao, 1002 CNY per gram for Chow Sang Sang, and 1009 CNY per gram for Chow Tai Fook [2] - There is a high demand for gold bars, with reports of daily sales reaching up to 10 kilograms in some stores, indicating a strong consumer interest in purchasing gold at lower prices [4] Group 2 - Recent fluctuations in gold prices have caused significant losses for short-term investors, with one investor reportedly losing over 470,000 CNY in a single night due to price volatility [5] - The Shanghai Futures Exchange has adjusted trading fees and margin levels for gold futures contracts in response to the increased volatility, indicating heightened market activity and risk management measures [7] - Several banks have issued warnings regarding the risks associated with gold investments, advising clients to manage their positions carefully amid rising market volatility [8] Group 3 - Some gold ETFs have temporarily suspended subscription and redemption services, urging investors to be cautious of short-term trading risks [9] - Analysts from Dongfang Jincheng and Goldman Sachs suggest that despite the recent price adjustments, gold remains in an upward trend supported by market demand for safe-haven assets and central bank purchases [9]

Core Viewpoint - The article discusses the recent significant drop in gold prices, highlighting the volatility in the market and its impact on consumer behavior and investment strategies [1][9][12]. Group 1: Gold Price Movement - On May 1, gold prices fell over $50, dropping below the $3,240 mark, with a reported price of $3,233.21 per ounce, reflecting a decline of 1.67% [1][2]. - Multiple gold jewelry brands have reduced their prices, with specific prices listed for various brands, such as 995 RMB per gram for Lao Miao gold jewelry and 1,002 RMB per gram for Chow Sang Sang [2][4]. Group 2: Consumer Behavior and Market Demand - There is a notable increase in consumer interest in gold, with many looking to buy at lower prices or sell high-value gold items. Reports indicate that gold bars are in high demand, with one merchant stating they sell several kilograms daily [7]. - The gold recovery business is also experiencing a surge, with a reported increase of over 70% in the total weight of gold recovered in April compared to the previous month [7]. Group 3: Investment Risks and Market Reactions - Investors have faced significant losses due to the recent price fluctuations, with reports of individuals losing over 470,000 RMB in a single night after buying gold at a high price [9][10]. - The Shanghai Gold Exchange has announced adjustments to trading fees and margin requirements for gold futures contracts, reflecting the increased volatility and risk in the market [11][12]. - Financial institutions are advising investors to be cautious and manage their risk exposure due to the heightened volatility in gold prices [13].