International gold prices fell for Fuzhou Gold $10/g a week

The haze of the financial crisis continues to shroud, the overall economic situation is depressed, and gold and silver both fall sharply lower. The international price of gold has risen from the beginning of the month to a new high of 1,800 U.S. dollars per ounce, dropped to about 1,740 U.S. dollars per ounce yesterday, and silver prices have also fallen to 33 U.S. dollars per ounce. Affected by this, the retail price of gold jewellery in Fuzhou Department Store has dropped by RMB 10/g in the past week.

The reporter visited the market yesterday and saw that the retail price of gold jewellery from Fuzhou Department Store without processing fees has been reduced from 467 yuan per gram last Friday to 457 yuan per gram. Since last week, the retail price of several jewelry stores in Fuzhou has also been lowered by RMB 10 to 15 per gram. A jewelry boss said that this is the first callback after the price rises in the last two months.

With the fall in the price of gold, the amount of gold bars bought back increased. Fuzhou, an investment gold bar store manager, told reporters that since the National Day, the repurchase business has grown by 20% or 30%, some of which were newly purchased this year, but also bought in previous years. These investors saw the gold bars in their hands have gained value, so they got cashed in the store.

Compared with repurchases, gold sales are somewhat deserted and large-size gold bars are not easy to sell. Large-size gold bars of 500 grams and 1 kilogram are rarely sold, while 10 grams and 20 grams of small-size gold bars sell well.