Recently, the retail prices of gold jewelry on the mainland have continued to decline. The prices of some branded pure gold jewelry have dropped to around 1260 yuan per gram, a decrease of nearly 450 yuan from the peak at the beginning of this year, representing a drop of over 25%.
According to reports from mainland media, the international gold price has been consistently weakening recently, leading to adjustments in the prices of gold jewelry at mainland retail terminals. The prices of many branded pure gold jewelry pieces have fallen below 1300 yuan per gram. During the Dragon Boat Festival holiday, the retail price of pure gold jewelry at the Caibai Gold Store in Beijing was 1260 yuan per gram, with many customers selecting gold jewelry at the counters.
A report by 21 Jingji Net on June 21st stated that at the beginning of this year, gold jewelry prices in mainland China had surged to around 1700 yuan per gram. Based on this calculation, in just half a year, the price of gold jewelry has fallen by nearly 450 yuan per gram.
Additionally, as reported by China Fund News on June 20th, the prices of gold jewelry on the mainland continued to decrease that day, with many gold brands quoting lower prices compared to the previous day. For example, the price of Zhou Dafu’s pure gold jewelry was 1261 yuan per gram, a decrease of 11 yuan from the previous day; Chow Sang Sang priced at 1263 yuan per gram, down by 9 yuan from the previous day.
The report also indicated that Lukfook Jewelry and King Fook Gold both quoted prices of 1259 yuan per gram, a decrease of 11 yuan from the previous day; Lao Feng Xiang and Lao Miao Gold quoted prices of 1258 yuan per gram, down by 7 yuan from the previous day; Zhou Liu Fu priced at 1256 yuan per gram, a decrease of 11 yuan from the previous day.
While the prices of gold jewelry at mainland terminals have fallen, international gold prices have also been on a continuous decline. China Fund News reported that as of the closing on June 19th, the COMEX gold price per ounce was $4172.9, with a weekly decline of 1.55%, marking the 6th consecutive week of decline; and the London gold price per ounce was $4157.808, with a weekly decline of 1.45%, marking the 3rd consecutive week of decline.
According to 21 Jingji Net, the spot gold price has been declining for four consecutive months. From January 29th to June 19th, the spot gold price has fallen by over 23%, reaching $4157.81 per ounce.
Against the backdrop of falling gold prices, some institutions have lowered their gold price targets. Goldman Sachs recently revised down its year-end gold price prediction for 2026 by $500 per ounce, setting a new December gold target price of $4900 per ounce. Analysts at Goldman Sachs stated that the downward revision is related to expectations regarding Federal Reserve interest rates.
The Federal Reserve maintained its interest rate range of 3.50% to 3.75% at its June meeting. Mainland media cited institutional research reports, stating that the future trend of interest rates depends on subsequent data.