Core Insights - International gold prices reached a historic closing high on Monday but saw a sharp decline on Tuesday, with New York Mercantile Exchange gold futures dropping over 6% during the day [1] - The silver market followed suit, with silver futures on the New York Mercantile Exchange falling more than 7% [1] - As of 7:30 PM Beijing time, gold futures were priced at $4034.9 per ounce, reflecting a daily decline of 1.81%, while London spot gold was at $4020.44 per ounce, down 2.5% [1] Market Reactions - In Shenzhen's Shui Bei gold market, many gold retailers expressed shock at the significant price fluctuations, with one retailer noting that gold prices dropped from 990 yuan to 930 yuan per gram in a single day, a decline unprecedented in their experience [3] - Despite the price adjustments, there were still consumers visiting gold shops, although the sales volume decreased compared to recent trends [5] - A sales manager indicated that while foot traffic remained decent, most customers were in a wait-and-see mode, hoping for further price drops before making purchases [7] Silver Market Dynamics - The recent drop in silver prices has led to a significant decrease in consumer interest, with some retailers reporting that previously popular silver products are now unsold following the price crash on the 21st [9] - A retailer noted that silver had previously seen a surge in demand, with prices rising approximately 20% in just ten days, but the recent volatility has cooled interest significantly [11] Impact on Gold Recycling - The decline in gold prices has also affected the gold recycling market, with a chief analyst reporting a more than one-third drop in customer visits compared to when gold prices were around 1000 yuan per gram [13]

Core Viewpoint - International gold and silver prices have experienced a significant decline, leading to a noticeable impact on sales and market activity in the precious metals sector [1] Group 1: Gold Market Impact - Many gold retailers reported a shocking level of price volatility, resulting in decreased transaction volumes compared to recent periods [1] - The drop in gold prices has led to a cooling off in the previously active gold recycling market [1] Group 2: Silver Market Impact - Silver prices have also seen a downturn, with some store owners noting that many silver products were sold out prior to the recent price drop, but are now seeing little to no interest from customers [1]