Domestic gold price drops below 1,000 yuan, multiple jewelry stores lower gold ornament prices! Spot gold posts largest single-week decline in 43 years

MaticHoleFiller · 2026-03-24T14:18:33+00:00

On March 23rd, domestic gold prices fell below 1,000 yuan, marking the largest weekly decline since 1983, with spot gold dropping 10.52%. Affected by this, domestic gold shop prices for pure gold jewelry have been reduced, and consumers are more inclined to purchase decorative gold jewelry, while sales of investment-grade gold bars remain sluggish. Analysts point out that this sharp decline in gold was caused by multiple factors, including the failure of safe-haven logic and liquidity crisis.

MaticHoleFiller

2026-03-24 14:18:33

Abstract generation in progress

Hot Topics

Selected Stocks Data Center Market Center Capital Flows Simulated Trading

Client

Invest in stocks with Golden Kylin Analyst Reports—authoritative, professional, timely, comprehensive—helping you discover potential thematic opportunities!

On March 23, domestic gold prices fell below 1,000 yuan. As of the latest report, the price is 975.66 yuan/gram, down 5.5%.

Last week, spot gold declined by 10.52%, the largest weekly drop since March 1983; COMEX gold futures fell by 11.07%; spot silver dropped by 15.87%; COMEX silver futures declined by 16.28%.

Affected by the plunge in international gold prices, many domestic gold shops reduced the prices of pure gold jewelry on March 23. According to China News Service, Lao Miao Gold’s pure gold jewelry was priced at 1,363 yuan/gram, down 50 yuan from the previous day’s 1,413 yuan/gram.

According to CCTV Finance on the 22nd, reporters visited several gold retail stores and found that traditional craftsmanship gold jewelry, such as ancient method gold and 3D hard gold, with strong decorative attributes, are more popular among consumers during the gold price decline; meanwhile, investment gold bars are relatively quiet, with fewer customers seeking consultation. Some store managers said that recent gold buyback business has also decreased.

Gu Fenga, Chief Analyst at Guoxin Futures, stated: “The domestic market has experienced the largest single-week decline in 40 years, following international gold prices, breaking through key technical levels in succession, showing a downward trend. The recent sharp drop in gold prices is due to multiple short-term factors resonating together: first, the short-term failure of safe-haven logic; second, a liquidity crisis in global markets; third, a short-term shift in global monetary policy expectations.”

Sina Cooperation Platform Futures Account Opening—Safe, Fast, Reliable

Sina Statement: This news is reprinted from Sina cooperative media. Sina.com publishes this article to convey more information and does not imply endorsement of its views or verification of its content. The article is for reference only and does not constitute investment advice. Investors operate at their own risk.

Massive information, accurate analysis, all on Sina Finance APP

Editor: Zhu Hennan

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.