Hit by the rise in the dollar index and the rebound in U.S. Treasury yields, international gold prices fell on Wednesday, falling for three consecutive days. At the close, June gold futures on the New York Mercantile Exchange closed at $2,338.4 an ounce, down 0.16%.
This follows the international gold price tumbling 2.72% intraday on April 22, the biggest intraday decline since June 2022. On April 23, gold prices continued their decline and dived again. As of press time, the spot gold price (London gold spot) fell more than 1% to $2,302 per ounce, and the lowest price once fell to $2,291 per ounce, breaking through the $2,300 integer mark.
Affected by the fluctuation of international gold prices, domestic gold store prices also ushered in a pullback.
On April 23, the retail gold price of many jewelry brands was lowered by about 14 yuan. Taking Chow Tai Fook as an example, it was listed at 733 yuan/gram on the 22nd, and it has been adjusted to 719 yuan/gram on the 23rd. The price of gold jewelry has dropped sharply, causing widespread concern on the consumer side.
"The price of gold jewellery fell by 14 yuan per gram overnight" related topics appeared on Weibo hot search, causing heated discussions among netizens.
In terms of precious metals, international gold prices fell on Wednesday, falling for three consecutive days due to the rise in the dollar index and the rebound in U.S. Treasury yields.
In Europe, bank stocks and financial services stocks led the decline in European stock markets due to the negative earnings reports of some leading companies, and the three major European stock indexes collectively closed down on Wednesday.
In the foreign exchange market, the market bets that the Bank of Japan's interest rate meeting this week will be "on hold", taking advantage of the US-Japan interest rate differential at a historical high for carry trades, the yen is under greater selling pressure, and the yen against the US dollar fell below the 155 yen mark per dollar on Wednesday, hitting a new low in nearly 34 years.
In terms of crude oil, gasoline supply in the United States fell to a two-month low last week, indicating that demand from the oil consumer side has fallen, and international oil prices fell on the day.
Source: CCTV Finance, CCTV News, Sina Finance, etc
Editor and producer: Jiang Xinwen
Reviewer: Meng Zaiyue
Review: Feng Zhiming