Group 1 - The spot gold price experienced a significant drop of 2.00%, reaching $3,361.82 per ounce, and is currently down nearly 1.6% at $3,376.20 per ounce [1][2] - The opening price for gold was $3,433.19, with a high of $3,434.69 and a low of $3,360.18, compared to the previous close of $3,430.36 [2] Group 2 - During the "May Day" holiday, the Shui Bei market saw a surge in visitors, with many treating it as a tourist destination, leading to high demand for gold products [4] - A customer from Guangxi spent approximately 100,000 yuan on gold items, indicating a trend of purchasing gold as gifts [4] - Despite a replenishment of stock before the holiday, demand for gold products, particularly around 1 gram in weight, remained high [4] Group 3 - There was a notable increase in the demand for gold recovery services, with recovery prices exceeding 800 yuan per gram, and the volume of recoveries during the holiday reaching double the usual amount [5] - The World Gold Council reported that China's gold ETF demand surged to approximately 16.7 billion yuan (about $2.3 billion, or 23 tons) in Q1 2025, marking a historical high [5] - Total gold consumption in China for Q1 was 249 tons, a 15% year-on-year decline, primarily due to weak demand for gold jewelry [5] Group 4 - Goldman Sachs maintains a bullish outlook on gold, predicting a year-end price of $3,700 per ounce and a mid-2026 price of $4,000 per ounce, with potential for prices to approach $4,500 per ounce under extreme scenarios [6] - Galaxy Securities notes that despite short-term volatility, the long-term outlook for gold remains positive due to macroeconomic and geopolitical risks, with expectations for continued net purchases by global central banks [6]