PRECIOUS METALS | Gold and Silver Prices Experience Significant Fluctuations

On April 8, gold and silver prices experienced significant fluctuations, according to Jin10. In Shenzhen's Shuibei market, both foot traffic and sales have noticeably declined, with many consumers opting for trade-ins. A merchant noted that transaction volumes are not as high as before, with investment clients purchasing in smaller quantities, typically around 5 to 10 grams. The volatility in gold prices has impacted not only the retail sector but also the wholesale market. A wholesaler mentioned that due to today's significant rise in gold prices, the quantity of goods purchased at the wholesale level has decreased markedly, with overall sales dropping by about one-third compared to the previous day. "Clients are halving their purchase quantities due to the large market fluctuations, fearing sudden drops or spikes. Previously, they would purchase one to two kilograms, but now they are buying in smaller amounts, such as 200 to 500 grams," the wholesaler explained. In the silver market, although prices have rebounded today, the significant previous declines have dampened consumer purchasing interest. A merchant stated, "Silver could sell for 24 yuan per gram before the New Year, but at its lowest point recently, it was around 15 yuan per gram, leading to a sales drop of over 90%."