Core Viewpoint - The recent decline in gold prices is influenced by U.S. President Trump's call for the Federal Reserve to lower interest rates, which could further impact market dynamics and gold demand [1][5]. Price Movements - On July 28, spot gold prices fell to $3310 per ounce, marking the first drop since July 17 [1]. - Domestic gold jewelry prices also decreased, with brands like Chow Tai Fook and Chow Sang Sang seeing reductions in their gold prices [1][2]. - As of July 29, the price of gold jewelry from various brands has fallen below 1000 yuan per gram, with specific prices reported as follows: - Chow Sang Sang: 978 yuan per gram (down 12 yuan) - Lao Feng Xiang: 998 yuan per gram (down 2 yuan) - Others remained stable or saw minor changes [2][3]. Market Trends - The global gold price saw significant increases earlier in the year due to rising geopolitical tensions, with the London spot gold price rising 24.31% year-to-date as of June 30 [3]. - The average price of gold in the first half of 2025 was reported at $3066.59 per ounce, a 39.21% increase compared to the same period last year [3]. - The Shanghai Gold Exchange reported a similar trend, with Au9999 gold closing at 764.43 yuan per gram, up 24.50% year-to-date [3]. Future Outlook - Analysts suggest that while short-term speculative demand has weakened, long-term support from central bank purchases and financial investments may sustain gold prices [5]. - There is a possibility that the Federal Reserve may lower interest rates more than expected, which could lead to a further increase in gold prices by over 10% by the end of the year [5].

Group 1 - The international gold price has recently declined, with COMEX gold futures closing at $3247.4 per ounce on May 2, down 7.48% from the high of $3509.9 per ounce on April 22 [2] - Many gold jewelry brands have lowered their prices, with quotes generally falling below 1000 yuan per gram, and some brands offering prices as low as 858 yuan per gram during the May Day holiday [2][3] - The decline in gold prices, combined with holiday promotions, has increased consumer interest, leading to crowded stores and significant purchases, particularly in Shenzhen's gold market [3][4] Group 2 - There is a notable increase in gold recovery activities, with many customers visiting stores to sell their gold, driven by higher recovery prices compared to previous purchases [5] - The gold recovery market has seen a surge in activity, with daily recovery volumes reaching twice the normal levels during the May Day holiday [5] - Some institutions suggest that gold prices may experience further fluctuations in the short term, indicating a potential for additional declines [6]