Gold Erases 2026 Gains in a Single Day; Shenzhen Waterbei Market Sees $8 Drop, Traders Report Weekend Buying Frenzy Turns to Fear
Deep News
Yesterday
International gold prices fell sharply on March 23, dropping below $4,100 per ounce and wiping out all gains recorded for the year 2026. A visit to the Waterbei gold market in Shenzhen revealed that local gold prices dropped by approximately 60 RMB per gram in a single day. Since last Wednesday, the cumulative decline over the week has approached 200 RMB per gram, setting a historical record. Many merchants reported that after last week’s price correction, a large number of buyers came over the weekend to buy at low prices, leading to strong sales of gold jewelry. However, following today’s sharp decline, many potential buyers have become hesitant to make purchases.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.