【Gold Price Trend】Spot Gold Further Breaks Below $4,500 USD; Gold Shop Per Tael Buyback Price Falls 1,500 HKD Daily (Attached: Chain Jewelry Store Saturday Gold Buyback Prices)

Gold prices continue to decline, weighed down by the Middle East war pushing up energy prices and weakening rate cut expectations, hitting a low not seen in over a month and a half. The week saw a decline of over 10%, marking three consecutive weeks of decline. Spot gold fell for eight days in a row, reaching a low of around $4,478 per ounce, down about 4%, and closed at around $4,492, still down 3.4%. The April NY gold futures contract closed at $4,574.9, down approximately 0.7%.

According to data from the Hong Kong Gold Price, at 9:30 a.m. local time on Saturday (21st), the 999.9 gold price was HKD 41,000 per tael, a decrease of HKD 1,500 from the previous day, and down HKD 9,000 or 18% from the high of HKD 50,000 at the end of January.

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Chow Tai Fook Group (01929) On Saturday, its Chow Tai Fook Jewelry & Gold website showed the investment gold (gold grains) buy-in price at HKD 41,390 per tael. Chow Sang Sang (00116) The website indicated that as of 9:15 a.m. Saturday, the buy-in price for pure gold bars was HKD 41,390 per tael. Luk Fook (00590) The website showed that the buy-in price for 9999 gold was HKD 41,000 per tael, and 9999 gold grains were HKD 41,390 per tael.

Local gold shop websites as of Saturday (21st) at 3 p.m. (for reference, subject to change as shops update prices periodically)

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			▲ Chow Sang Sang webpage shows the buy-back price for pure gold bars at HKD 41,390 per tael.

CAMEO’s Friday gold price for 999.9 gold was HKD 42,500 per tael

According to CAMEO’s social media post on Friday (20th), the 999.9 gold buy-in price was HKD 42,500 per tael, down from HKD 50,000 at the end of January, a decrease of HKD 7,500 or 15%.

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Three key factors causing the sharp decline in gold prices:

• Rising energy prices: Middle East conflicts pushing up crude oil and natural gas costs, fueling inflation.
• Weakened rate cut expectations: Inflation concerns reduce the likelihood of central banks lowering interest rates, with US bond yields rising.
• Capital shifting: Investors selling gold to cash out and offset losses in other financial markets.

Since late last month, following attacks by the US and Israel on Iran, precious metals seen as safe-haven assets have been declining weekly. The conflict-driven surge in oil and natural gas prices has heightened inflation fears, reducing the likelihood of central banks lowering borrowing costs. Meanwhile, US bond yields and the dollar index have both risen, prompting investors to sell gold to cover losses elsewhere. Gold ETFs favored by Western retail and institutional investors have experienced continuous outflows in recent weeks.

Patrick Armstrong, Chief Investment Officer at Plurimi Wealth LLP, said: “It is no longer a safe-haven asset but a speculative one.”

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