The list of main funds and their gains and losses are updated in real-time and can be viewed for free within the app.
Recently, the topic of “continuous decline in gold prices” became a hot topic on Weibo, sparking a discussion among a large number of netizens. However, just in mid-September, the topic of “gold prices breaking through 600 yuan per gram” also became the top trending topic on Weibo. Now, in less than a month, the decline in gold prices has made many netizens who bought “expensive” gold before the National Day holiday feel a bit regretful. However, many netizens also expressed that investment always carries risks, and fluctuations in gold prices are normal, so there’s no need to worry too much.
A visit to several gold shops in the Guangzhou area revealed that the price of gold in several well-known stores is below 600 yuan per gram. Compared to the prices before the National Day holiday, the prices have declined slightly. However, the customer traffic in the stores is not high. In contrast to the lively atmosphere during the National Day holiday, it feels a bit quiet.
Various gold prices in offline stores have dropped below 600 yuan per gram. In the commercial areas of Tianhe Square and Tianyu Square, there are several branded jewelry stores. When the reporter entered these stores as a consumer, the salespeople eagerly introduced the products and the gold prices of the day. A salesperson at a branded jewelry store told the reporter, “The current gold price is below 600 yuan per gram. If you have investment needs or want to buy gold, it is a very good time to do so. It’s cost-effective.” The reporter found that the gold prices for jewelry in various stores were around 588 yuan per gram, and some salespeople mentioned that the price before the National Day holiday was 610 yuan per gram, indicating a decrease of more than 20 yuan per gram. The prices of investment gold were around 539 yuan per gram, lower than the prices before the National Day holiday.
Some salespeople expressed that there was a clear difference in customer traffic before and after the National Day holiday. During the National Day holiday, the stores were very lively, with many customers buying gold for weddings and gifts. There were also wealthy bosses buying a lot of investment gold for investment and gifting purposes. The overall sales during the holiday period were good. In contrast, after the National Day holiday, there were occasionally only one or two customers in the stores, and the customer flow noticeably decreased. The slight decline in gold prices does not seem to attract many people to come and buy gold.
In a jewelry store in Grandview Plaza, the reporter saw that there were still many customers choosing and purchasing gold. Newlyweds were selecting “three golds” for their wedding, and young people were buying gold jewelry as gifts for their elders. “During this period, many customers have come to buy gold jewelry during the Double Festival discounts and the price reduction after the National Day holiday,” a salesperson told the reporter. On the last day of the Mid-Autumn Festival and National Day double holiday, there was a discount of 40 yuan per gram on top of the base price of 587 yuan per gram. Regarding whether the gold prices will continue to decline or rise again, the salesperson stated that gold is a store of value, and its price does not fluctuate significantly. It is expected to rebound after the holiday.
When asked why the gold prices were declining, a salesperson stated that the gold prices are influenced by the international situation, so there is a certain relationship between the decline in gold prices and international gold prices. In addition, factors such as manufacturing costs and manual labor fees also result in differences in gold prices between different stores. The salesperson said, “Investing in gold is like playing a numbers game, similar to stock trading. Buying low and selling high can make money, while selling below the original price can result in losses. However, investing in gold is slightly better than stock trading because gold prices do not fluctuate significantly. They do not experience long-term declines or increases.”
Some people took advantage of the decline in gold prices to buy gold, while others felt regret for buying gold at high prices before the holiday. In a jewelry store in Tianyu Square, the reporter saw customers buying nearly 8,000 yuan worth of gold in one go due to the decline in gold prices. Some citizens expressed their constant attention to the prices of gold in major jewelry stores. When they have free time shopping, they would walk into the stores to see the gold prices. They took the opportunity of the lower prices after the National Day holiday to make a purchase. A student named A Qing (alias) knew about the decline in gold prices and came to inquire about the price of gold items at a well-known jewelry store. A Qing wanted to buy gold items at an affordable price, stating, “On one hand, I can get a good deal, and on the other hand, gold items purchased from branded stores will be easier to exchange for cash or other gold items in the future when needed.” A Qing recalled that gold items purchased from small stores before were not guaranteed in terms of purity and quality, making it difficult to exchange them for other goods at gold shops. “So, I will take this opportunity of the low gold prices to buy some gold items as a small investment.”
However, there were also customers who were not too happy about the continuous decline in gold prices. Some customers looked unhappy after inquiring about the gold prices. They bought a certain quantity of gold at high prices before and during the National Day holiday, thinking that the prices would keep rising after the holiday and possibly surpass 610 yuan per gram. They didn’t expect the prices to drop below 600 yuan per gram, resulting in a state of “loss.” They would have to wait a bit longer to sell off the gold they have.
Regarding the sudden slight decline in gold prices, a citizen named Xiao Si (alias) said that he used to feel very anxious and worried when the gold prices fell below the original purchase price, afraid that he would lose money. However, after a few days, the gold prices rose again, even exceeding the purchase price. Since then, he hasn’t worried about the fluctuations in gold prices anymore. “Fluctuations in gold prices are very common,” he said. However, he still maintains a rational and watchful attitude towards the current decline in gold prices and will wait a bit longer before making any moves.