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Today, I saw a report on CCTV Finance stating that the price of gold jewelry has fallen from 792 yuan per gram a week ago to 756 yuan per gram, a drop of 4% in one week.
I thought gold prices had reached 900 yuan per gram and were about to surge to 1000, so why has it suddenly dropped to 756? Upon closer inspection, this price is from the Shenzhen Shuibei market.
The gold prices at the Shenzhen Shuibei market are generally low, and most do not include processing fees. Brands like Chow Tai Fook and Chow Sang Sang typically have prices above 900 yuan when processing fees for jewelry are included.
London gold fell from around 3500 to about 3200, while the price of gold jewelry in the domestic market has seen some decline, but the extent is not significant, and the feeling is not very obvious, largely due to processing fees.
The processing fee for one gram of gold is at least 100 yuan and at most 200 yuan, accounting for 15-20% of the gold price, which is indeed too high.
When recycling gold, the processing fee is worthless. If you want to invest in physical gold, try not to buy jewelry, as the processing fee will make you a big loser.
Seeing the gold price fall, some people enter the market to buy gold jewelry, while others sell gold to cash out. It's that time again when buyers and sellers of gold greet each other with SB.
I think the current gold price is still high. For pure investment, not a must for marriage, I do not recommend entering the market.