Core Viewpoint - The current spot gold price has experienced a significant decline, dropping below 4000 yuan per ounce, which is nearly 400 dollars lower than the historical high of 4381 dollars per ounce reached on October 20 [1] Group 1: Gold Price Trends - On November 1, the spot gold price fell to 1198 yuan per gram, with various brands reporting similar prices for gold jewelry [3][4][6] - The domestic gold price has generally retreated below 1200 yuan per gram since October 28, despite fluctuations in international gold prices [1][6] Group 2: Pricing Strategies of Jewelry Brands - Major jewelry brands have implemented price increases for their "fixed-price" gold products, with price hikes ranging from 300 to 500 yuan, equivalent to a 30% to 50% increase [7][11] - The sales of fixed-price gold products have significantly increased, with Chow Tai Fook reporting a 105.5% year-on-year surge in revenue from these products, rising from 7.1% to 19.2% in the mainland market [11][12] - The average same-store sales growth for fixed-price gold products at Luk Fook Group reached 35.25% in the 2025 fiscal year [12]