Gold Rush Erupts in Shuibei as Prices Tumble! Netizens Joke: "Monkey Market" for Gold Arrives

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Yesterday

Spot gold prices have declined continuously this week, with a cumulative drop of approximately 15%, marking the largest weekly decline since March 1983. The sharp reversal from previous significant gains to this week's substantial drop has led consumers to jest that, beyond a "bull market" or a "bear market," they are now witnessing a "gold monkey market." The gold market in Shenzhen's Shuibei district is bustling with activity. Counters at major gold stores are crowded with consumers inquiring about prices. Following a week of consecutive price drops, consumer purchasing enthusiasm is high. Managers from several gold stores reported that foot traffic over the weekend increased by about 30% compared to the previous week, including buyers who traveled from other cities specifically to hunt for bargains. Notably, many consumers planning weddings around the May Day holiday, seeing the significant drop in gold prices, have opted to purchase their wedding "three golds" or "five golds" ahead of schedule.

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