Gold Jewelry Price Breaks Below 1400 Yuan, Down Over 100 Yuan in a Week

Gold prices plummeted over 10% this week, hitting a seven-week low and marking the largest weekly decline since March 1983. As of Friday (March 20) after-hours in New York, spot gold fell 3.42% to $4,491.67 per ounce, down over 10% this week; COMEX gold futures dropped 2.47% to $4,492 per ounce, down over 11% this week.

As a result, prices of various jewelry brands also experienced significant fluctuations. It was found that Chow Sang Sang, Chow Tai Fook, Luk Fook Jewelry, and Lao Miao Gold jewelry prices have fallen below 1,400 yuan per gram.

Chow Sang Sang pure gold jewelry is priced at 1,389 yuan/gram, down 54 yuan in a single day, from 1,540 yuan/gram on March 16, a drop of 151 yuan.

Chow Tai Fook gold jewelry prices fell from 1,447 yuan/gram to 1,397 yuan/gram, a decrease of 50 yuan in one day.

Luk Fook Jewelry gold prices declined from 1,445 yuan/gram to 1,395 yuan/gram, down 50 yuan in a single day.

Lao Feng Xiang gold jewelry prices dropped from 1,443 yuan/gram to 1,418 yuan/gram, a decrease of 25 yuan overnight. Compared to March 16, when it was 1,542 yuan/gram, it has fallen by 124 yuan.

Lao Miao Gold’s jewelry prices fell from 1,445 yuan/gram to 1,397 yuan/gram, a drop of 48 yuan overnight. Compared to March 16, when it was 1,560 yuan/gram, it has decreased by 163 yuan.

(Source: Cailian Press)