Beijing's Main Gold Stores Collectively Lowered Gold Sales Prices

Yesterday the capital city was the main city. gold Stores sell gold prices collectively. According to the data of CAI Bai jewelry, Guohua shopping center, Gong Mei building and so on, the price of gold jewelry has been lowered since yesterday. Thousands of gold coins were reduced to 308 yuan per gram from 316 yuan per gram, a drop of 8 yuan per gram. From the former 312 yuan to 305 yuan, the reduction was 7 yuan.

Beijing's gold price plunged 15% a year

Gold analyst told the reporters that the international gold price has been fluctuating this year. Recently, influenced by the situation in Ukraine and the strong performance of some US economic data, gold price has gone out of the shock pattern. Up to now, international gold prices have dropped to around $1245 an ounce. In the past May, New York's spot gold price dropped by 3.8%, breaking the biggest monthly decline since January. In line with the principle of "increasing cautiously and reducing the following closely", vegetable hundred companies lowered the price of gold jewelry for the first time in light of the international gold price trend.

Since the end of May, international gold prices have fallen for 6 consecutive days. This has been the longest decline in gold prices since last November. International spot gold hit a five day and a half maximum single day drop in May 27th with a 2.41% decline. By the end of the last trading day in May, gold futures in the New York market closed at $1246 an ounce, the lowest since February. New York spot gold gold price fell 3.8% in the same month, the biggest monthly decline this year.

suffer International gold price Continuous decline, according to reporters statistics, from last June 20th to this year, the sale price of gold in Beijing has been reduced by 55 yuan. The decline is as high as 15%.

Reduction of gold consumption in China and India affects gold prices

According to statistics released by the Hongkong Bureau of statistics, the net import volume of gold in Hongkong in China's 4 menstrual period reached 67.040 tons, down from 85.128 tons in March, the lowest level in February last year. In April, China imported 80.817 tons of gold from Hongkong, and exported 15.419 tons to Hongkong to 14 month low.

India, according to foreign media reports, India farmers' gold purchases account for India's total. Gold purchase volume 60%, the most severe El Nino rainy season in June will directly affect the demand for gold in India. Edel Tully, a precious metals strategist at UBS, said: "a good rainy season is closely related to crop bumper harvest. This will increase farmers' income and push up demand for gold. The bad rainy season has led to bad harvest, which has pushed up grain inflation. The purchase of India gold is mainly from the poor in India. They may sell their own gold and only set aside less money to buy gold.