News Brief | Gold Price Plummets "Rare in 43 Years"! Domestic Gold Jewelry Per Gram Price Crashes Through Support, Leaving the Internet Bewildered "Can't Make Sense of It"……

Sunday, March 22

Partly cloudy with overcast skies 15~22°C

Zhongshan Ancient Town Long Table Feast

Taste the flavors of rural China

“8D Magic,” “Cyberpunk,” “City of the Future”—these are the words most visitors from outside Chongqing associate with the city. However, the real Chongqing is far more complex; the true 8D is even more magical! Just as the 75-story Global Financial Center next to Jiefangbei is surrounded by the layered Bāyú stilt houses of Hongya Cave, hidden within the folded space of this super metropolis is a land of warmth, tradition, and passion—Chongqing! The annual Jiangjin Zhongshan Ancient Town “Thousand-Meter Banquet” perfectly embodies this Chongqing.

According to Chongqing Radio and Television - First Eye News

Today’s Headlines

Gold prices plummet “rare in 43 years”! Domestic gold jewelry prices directly fall below↗

The entire internet is stunned, “I don’t understand”…

Gold rebound was short-lived

Intra-day V-shaped trend

Falling over 5% from the daily high

Breaking below the key support of $4,500

As of Friday (March 20) NY close

• Spot gold down 3.42%, at $4,491.67 per ounce, down over 10% this week;
• COMEX gold futures down 2.47%, at $4,492 per ounce, down over 11% this week.

Gold has plummeted over 10% this week

Reaching a seven-week low

The largest weekly decline since March 1983

Jewelry prices from Chow Sang Sang, Chow Tai Fook, Luk Fook Jewelry, Lao Miao Gold

Directly fell below 1,400 yuan per gram

Remember, in early March,

Gold prices were generally above 1,600 yuan per gram

As a safe-haven asset, gold suddenly declined

Netizens are confused: I don’t understand

Man “bottom-fishing” 160 grams of gold, stunned:

“Why did the gold price drop as soon as I bought in?”

“When I didn’t buy, everyone around said I made money. Why did the price drop right after I bought? Did I really crash the market?” On the evening of March 18, Mr. Zheng, a post-90s investor in Hangzhou, was browsing Middle Eastern tensions and watching gold prices, unable to stop asking questions in his investment group.

“Every time I buy, it drops, and the gold price keeps falling. When will I break even if this continues?” Mr. Zheng began to doubt the concept of gold as the “king of safe havens.”

According to Chao News, at the end of February, after Israel and the U.S. launched military strikes on Iran, Mr. Zheng, working at a tech company in Binjiang, Hangzhou, had never bought gold but was tempted to do so.

On March 2, Mr. Zheng bought 100 grams of gold bars at 1,188 yuan per gram. After purchase, gold prices initially rose, even breaking through 1,200 yuan per gram the next day.

On March 18, when gold prices again fell below $5,000 per ounce, Mr. Zheng couldn’t resist “bottom-fishing,” buying three small 20-gram gold bars at 1,120 yuan per gram, bringing his total gold holdings to 160 grams.

However, he was disappointed as gold prices fell again after his purchase. Starting around 8 p.m. on the 18th, London spot gold plunged. “I didn’t sleep well all night. When I checked this morning, the purchase price of my gold bars was about 1,080 yuan per gram. Roughly calculating, my 160 grams of gold are now floating at a loss of over 13,000 yuan,” Mr. Zheng sighed. “I can only hold on.”

Expert explanation: “Interest rate logic” suppresses “safe-haven logic”

According to Shanghai Securities News, Qu Rui, Senior Deputy Director of the Development Department at Orient Securities, said, “The ‘counterintuitive’ movement of gold prices mainly stems from interest rate logic significantly suppressing safe-haven logic.”

A key background is that during a “super central bank week” when many central banks announced interest rate decisions, the escalation of Middle Eastern tensions pushed oil prices higher. From the Federal Reserve to the Bank of England, policy tone seems to be shifting toward a “hawkish” stance, and global financial markets’ expectations for monetary policy are rapidly turning “hawkish.”

Qu Rui explained: Market expectations for rate cuts have cooled significantly, driving U.S. Treasury yields and the dollar index higher. Additionally, recent liquidity tightening caused by U.S. private equity credit withdrawals has made the dollar a safe-haven and yield-earning asset, diverting safe-haven funds. Meanwhile, as a no-interest asset, holding gold incurs opportunity costs that rise with U.S. Treasury yields.

Is now a good time to buy gold? Market analysis suggests that in the short term, geopolitical conflicts and the resulting energy price shocks are the main drivers of global “safe-haven trading.” As a result, gold has experienced repeated fluctuations. Interestingly, this round of gold performance contradicts previous understanding because the market’s trading logic has fundamentally shifted from “safe-haven trading” to “inflation-tightening trading.” However, some institutions believe that the structural value of gold remains intact in the long term.

Would you take this opportunity to buy gold at a lower price?

According to Xinwenfang, Cailian Press, Chao News, Shanghai Securities News, and The Beijing News

Chongqing

1—Mom is my hands and feet; I am my mom’s light

With severe muscle atrophy, her body seems frozen, and raising her hand or taking a step is a luxury. Only a few fingers can barely click the mouse. Yet, with these few active fingers, Xie Xing has carved out a space online—from gaming streamer to rural aid主播. With faint but resilient strength, he supports his life and has become a source of pride for his family. Details

2—First station building of Chengyu Middle Line High-Speed Rail in Chongqing topped out

On March 20, the main structure of the Tongliang Station of the Chengyu Middle Line High-Speed Rail, built by China Railway Ninth Bureau Group, was completed as the last 14-meter-long, nearly 5-ton roof steel structure was precisely lifted into position and connected. The project has now entered the decoration and equipment installation phase. Details

3—Focus on AI era home-school co-education: “Read the Child Innovation Institute” established

On March 21, the “Read the Child Innovation Institute” was established at Chongqing Qicheng Bashu Primary School. Nearly 700 people, including education authorities, university representatives, primary and secondary school leaders, and parent representatives, gathered to discuss innovative paths and practical directions for future education in the AI era. Details

4—Weather forecast | Today, soak up the sun during the day; rain returns tonight

Chongqing Meteorological Service predicts that from the night of March 21 to the daytime of March 22, most areas will experience partly cloudy to overcast skies. From the night of March 22 to the daytime of March 24, overcast with showers, with some areas in the southeast experiencing moderate rain. Details

News Highlights

1—Iranian military claims to have hit Israeli F-16 fighter jet

On March 21, Iran’s Islamic Revolutionary Guard Corps announced that at 3:45 a.m. local time, Iran’s new air defense system shot down Israel’s third fighter jet (F-16 model) in central Iran. Details

2—Netanyahu urges “deploy troops to Iran”

According to The Hill’s website on March 20, as the conflict between the U.S., Israel, and Iran approaches its fourth week, Israeli Prime Minister Netanyahu said on the 20th that overthrowing the Iranian regime requires “ground forces” and a revolution. Details

3—Putin: Russia remains a loyal partner during Iran’s difficult times

March 21 marks Nowruz, the Iranian New Year. According to the Kremlin website, President Putin extended holiday greetings to Iran’s Supreme Leader Khamenei and President Raisi. Putin stated that Russia has always been a loyal and reliable partner for Iran during these challenging times. Details

4—Fire at Daejeon factory in South Korea confirms 14 deaths

At around 1:17 p.m. local time on March 20, a fire broke out at an auto parts factory in Daejeon, South Korea. So far, 14 people have died, and 69 others are injured. Details

Social Media

1—Drone turns into “weapon”! “Carrying arrows” for hunting wildlife, multiple people sentenced

Recently, Jiangxi Tonggu Public Security announced a case of illegal hunting. Police caught two suspects using drones to drop arrows for illegal hunting at a tea mountain forest. They seized five muntjacs, one drone, and several dropped arrows. One suspect who fled has surrendered. Details

2—Portrait artist restores “Aunt Mei”: Elderly cohabitant says Aunt Mei is sweet-talking and often brings different children home

Regarding public concern about the resemblance between the portrait and the actual captured “Aunt Mei,” Lin Yuhui, former chief forensic sketch artist of Shandong Public Security, told reporters that the official has not yet released a frontal photo of Aunt Mei after her arrest. All similarity assessments are based on field visits and informant feedback from that time, with an estimated similarity of at least 70%. Details

3—11 universities in 9 provinces renamed as “universities”

Recently, the Ministry of Education announced approval letters for several local colleges to change from “college” to “university,” totaling 11 institutions across Zhejiang, Inner Mongolia, Jiangsu, Anhui, Shaanxi, Hunan, Fujian, Chongqing, and Shandong. Details

4—Third-year male student injured by classmate over seat reservation, reports suspect for fraudulently obtaining national grants; school responds

Third-year student Shen Ao from Hebei Financial University remains troubled by an incident on December 2 last year. He claims he was lightly injured by classmate Zhang over seat reservation issues and is now recuperating at home. Zhang was administratively punished and fined 500 yuan. Shen Ao also reported Zhang for concealing family financial info and fraudulently obtaining national grants. Details

Sports & Culture

1—Rain delays in Miami, only Zheng Qinwen remains in Chinese tennis team

Since the main draw began on the 17th, frequent rain delays and cancellations have occurred. The schedule has been constantly adjusted, creating a sense of disorientation among viewers—especially in the women’s singles second round, when No. 2 seed Swiatek was unexpectedly eliminated. Over 24 hours later, some players are still waiting for their second-round match arrangements, including Chinese star Zheng Qinwen. Details

2—Famous actress Yang Zi’s studio issues urgent statement: Will pursue to the end

In response to unauthorized use of Yang Zi’s likeness via AI face-swapping and deep synthesis techniques to produce and spread videos, her studio has commissioned lawyers to collect evidence and will pursue legal action to protect her rights! Details