On June 5th, the international gold price experienced a significant drop, leading to a simultaneous reduction in prices at gold shops on the mainland. Some branded gold jewelry prices have fallen by nearly 400 yuan from the peak earlier this year, returning to levels seen at the end of 2025.
According to a report by “21st Century Economic Report” on June 6th, the closing price of international gold on June 5th was $4328.92 per ounce, with a daily decline of over $140. The price has dropped over $1200 from the peak earlier this year. The report mentioned that both international gold prices and mainland gold jewelry prices have retreated to the levels of December 2025.
Recently, the topic “gold jewelry prices drop by about 20% per gram” has become a hot search trend. Influenced by the decline in international gold, silver, and oil prices, mainland gold jewelry prices have also seen a noticeable decrease.
In the mainland retail market, data on June 6th showed that Chow Tai Fook jewelry was priced at 1315 yuan per gram, a daily decrease of 39 yuan; Lao Feng Xiang gold was priced at 1321 yuan per gram, a daily decrease of 35 yuan; and Lao Miao gold was priced at 1316 yuan per gram, also experiencing a 39 yuan drop in a single day.
On January 29th of this year, some branded gold jewelry prices reached a temporary peak for the year. On that day, the per gram prices for Chow Tai Fook, Lao Miao Gold, and Lao Feng Xiang Gold were 1708 yuan, 1722 yuan, and 1713 yuan, respectively. As of June 6th, the prices for the aforementioned brands have declined by 393 yuan, 401 yuan, and 397 yuan from their peaks earlier this year, with each seeing a decrease of around 23%.
“China News Network” reported on June 6th that on the morning of June 6th Beijing time, international spot gold closed at $4328.92 per ounce, representing a daily decline of 3.25%. By then, spot gold for the week had accumulated a decline of 4.61%, dropping by over $200. Since the beginning of the year, spot gold had reached a peak of $5598.75 per ounce and a low of $4090 per ounce, showing a fluctuation of over $1500 per ounce.
Prior to this round of price declines, several international financial institutions had already adjusted their gold price predictions. Deutsche Bank recently revised its year-end 2026 gold price forecast from $5000 per ounce to $4800 per ounce. Previously, institutions such as Morgan Stanley, J.P. Morgan, Citigroup, and ANZ Bank had also revised or adjusted their gold price expectations.