crashofthetitans| The price of gold per gram has dropped by more than 30 yuan, and gold, which has been rising all the way, has ushered in a new upsurge in consumption

Transferred from: Beijing Business Daily

The price of gold has fallen recently.CrashofthetitansThe trend.

On May 6, the real-time gold price of the Shanghai Gold Exchange showed that Au99CrashofthetitansThe opening price of .99 was 545.8 yuan per gram, down 31.19 yuan from the price on April 15th.

At the same time, a reporter from Beijing Business Daily visited major gold stores and found that the price of jewelry gold has also generally fallen. Compared with the peak price in April, the price of jewelry gold by Zhou Shengsheng alone has dropped by 30 yuan today.

The analysis points out that the current temporary decline in gold prices is an inevitable phenomenon, and gold prices will show a trend of first suppressing and then rising in the future. From the investment level, gold financial risks appear, and consumers need to allocate gold financial products prudently.

The gold price is reduced by about 30 yuan.

The rising price of gold has stalled.

Real-time gold prices on the Shanghai Gold Exchange show that Au99.99 opened at 545.8 yuan per gram today, after the Au99.99 price rose to an all-time high on April 15, with an opening price of 567.01 yuan / gram, a closing price of 558.68 yuan / gram, and a highest price of 576.99 yuan / gram. Today's opening price of 545.8 yuan per gram of Au99.99 is down 31.19 yuan from the peak price of 576.99 yuan per gram of Au99.99 on April 15.

With the decline of Au99.99 gold prices, the investment gold prices of major gold brands are also falling further.

On May 6th, the price of Chow Tai Fook investment gold is 627 yuan per gram, Zhou Shengsheng's "raw gold treasure" price is 628 yuan per gram, and the basic gold price of vegetable jewelry investment is 543.9 yuan per gram. According to the clerk of Caibai jewelry offline store, the price of investment base gold today is nearly 30 yuan lower than the price of about 570 yuan per gram in April. The price of investment gold in Chow Tai Fook today is also 28 yuan lower than the price of 655 yuan per gram on April 21.

In this regard, Lin Dahui, a senior gold investment analyst, said that the main reason for the current decline in gold prices is the reduction of geopolitical risks, the easing of the situation in the Middle East and the retreat of risk aversion. At the same time, the previous rise in gold prices is mainly due to the market misunderstanding of the Fed interest rate cut, superimposed by the self-reinforcing phenomenon of gold prices after the gold price hit a record high, which is also contributing to the further rise in gold prices. Now that the Fed's interest rate cut has been postponed, the logic of gold price support has changed, and there will naturally be a decline in gold prices.

The heat of gold consumption increases

The decline in international gold prices has also led to a further decline in the price of jewelry gold.

Today, the price of full gold jewelry of brand Laomiao gold is 698 yuan per gram, the price of brand Zhou Tai Fook jewelry is 707 yuan per gram, the price of brand Zhousheng gold jewelry is 705 yuan per gram, and the price of vegetable jewelry gold jewelry is 686 yuan per gram. The price of jewelry gold shows a downward trend. Compared with the gold price of jewelry in mid-April this year, the price of jewelry gold of the brand Zhou Shengsheng alone has dropped by 30 yuan. The salesperson of the Laomiao Gold offline store told the Beijing Business Daily that today's gold price is still worth starting with. "the discount of 50 yuan per gram of gold is calculated to be about 650 yuan per gram."

Brands Zhou Shengsheng and Liufu Jewelry also offer different discounts. The clerk of Zhou Shengsheng's offline store told Beijing Business Daily that at present, Zhou Shengsheng jewelry gold has a discount of 30 yuan per gram, and some jewelry gold jewelry has a discount of 88%. Liufu Jewelry Gold Jewelry has a discount of 52 yuan per gram, with a hand price of about 655 yuan per gram.

The temporary decline in jewelry gold prices attracted many consumers to buy, coinciding with the "May Day" short holiday, the gold brand's offline stores ushered in a new wave of consumption boom. According to the sales staff of the above-mentioned Laomiao gold offline stores, during the May Day holiday, there was a lot of increase in store passenger flow than in the past, and most of the consumers who came to buy were married or rigid demand users with a demand for gifts, and more customers bought investment gold bars, but it was still difficult to compare with the passenger flow during the Spring Festival. Zhang Tong (a pseudonym), a consumer who is shopping in the store, told Beijing Business Daily that he was buying birthday gifts for his friends. "because the recent fluctuation in the price of gold is too obvious, I want to take advantage of the price when it is still appropriate."

We still need to invest cautiously.

In 2024, compared with buying precious jewelry such as diamonds and jade, gold jewelry has become the mainstream of contemporary consumption, and the audience of gold-related products has also expanded from "post-70s" and "post-80s" to "post-90s" and "post-00s". Earlier, there was a trend of saving "golden beans" on social platforms, and many young people invested by collecting golden beans.

On April 26th, the China Gold Association released industry data for the first quarter of 2024, showing that national gold consumption was 308.905 tons, an increase of 5.94 percent compared with the same period in 2023. Of this total, gold jewelry was 183.922 tons, down 3 percent from the same period last year; gold bars and coins were 106.323 tons, up 26.77 percent from the same period last year. Talking about the reasons for differentiation, the China Gold Association said that the rapidly rising gold price, superimposed gold jewelry processing fees and high brand premium and other factors have increased consumer wait-and-see mood, gold jewelry consumption has been curbed to a certain extent.

For the late trend of the gold market, economists Pan Helin predicted that gold will fall sharply and rise slowly in the future, because the Federal Reserve will eventually cut interest rates, and gold prices will still rise in the general direction, but the upward trend will be very slow. Reflect the position of the current economic cycle by slowly climbing.

Lin Dahui believes that gold prices are expected to continue to adjust in the short term, but also said that gold prices will show a trend of first suppressing and then rising in the future.

Is the short-term decline in gold worth investing? Pan Helin and Lin Dahui both expressed the same point of view, and now is not a good time to buy gold. In Pan Helin's view, gold is not recommended to become the preferred investment product for consumers, because at present gold has no other functions except jewelry and investment, and its price support depends on scarcity, but the current gold recovery channel is not perfect. At the same time, Pan Helin said that the purpose of the investment is that the underlying assets themselves can generate returns, such as dividends on stocks, such as interest on bonds, while gold does not have these by-products, and the only profit that gold can generate is the price differential. so gold is not suitable for investment.

Lin Dahui also believes that it is not appropriate to buy gold for investment at the moment. "as the price of gold has risen by a large margin, the price correction at this stage is not deep, and the decline should not be over yet, and it is still not suitable for purchase for the time being." Lin Dahui said frankly.

(Beijing Business Daily reporter Liu Zhuolan and Wang Siqi)