Gold prices suddenly surge! The price per gram of gold jewelry increases by over 60 yuan in one day!

Source: China Business News

There are signs of partial easing in the tense situation in the Middle East. Concerns about tightening liquidity have eased somewhat. During the Asian trading session on March 25, some investors bought on dips, and international gold and silver prices rose at one point during the trading day.

As of 9:45 a.m. Beijing time on the 25th, the London spot gold price was reported at $4,595.66 per ounce, with a near-3% gain for the day. As of 9:30 a.m. Beijing time, the NYSE gold futures’ main contract was quoted at $4,578.40 per ounce, up 4.01% from the previous day’s close. The NYSE silver futures’ main contract was quoted at $74.110 per ounce, up 6.53% from the previous day’s close.

Domestic branded pure gold jewelry prices also rebounded across the board, with the per-gram price returning to 1,400 yuan. On the 25th, Chow Tai Seng’s pure gold jewelry was 1,418 yuan/gram, up 68 yuan for the day; Laofengxiang’s pure gold jewelry was priced at 1,408 yuan/gram, an increase of 63 yuan per gram compared with the 1,345 yuan/gram price the previous day.

Chow Tai Seng’s official website gold price information

Multiple banks issued risk warnings

Recently, multiple banks including Bank of China, China Construction Bank, China Minsheng Bank, Industrial and Commercial Bank of China, and others have released risk warning announcements regarding the precious metals market. The announcements stated that current precious metals prices are experiencing intense fluctuations, market uncertainty has increased significantly, and customers are advised to enhance their risk-prevention awareness. It is recommended that customers make rational investments based on their own financial conditions and risk tolerance, and manage positions reasonably.

• Bank of China advises investors to reduce the impact of short-term price volatility through long-term investing;

• ICBC, meanwhile, reminds investors to follow the principles of “total quantity control, staged entry, and diversified allocation” to build a more stable asset portfolio.

Tian Lihui, a professor of finance at Tianjin University of Finance and Economics, said that the volatility in the precious metals market at present has gone beyond the scope of normal pullbacks, entering an abnormal stage characterized by high intensity and high uncertainty. Ordinary investors are more suited to make long-term allocations using unleveraged methods such as accumulation gold and gold ETFs.

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By Qin Yi