25th October 2026 – (Shenzhen) Spot gold extended its recent slide, dipping beneath the US$4,000 threshold to close at about US$3,995.63 per ounce, a fall of 0.72 per cent. The retreat fed swiftly into mainland retail pricing, with leading brands trimming quotes to around RMB1,200 per gram—roughly RMB100 lower than a month ago—triggering heavy weekend buying at Shenzhen’s Shuibei gold market, which onlookers likened to the bustle of a wet market.
Major chains cut their posted rates on 24th October, with adjustments of roughly RMB6 to RMB12 per gram compared with the previous day. Indicative quotes saw Laomiao Gold at RMB1,196 per gram (down RMB12), Chow Sang Sang at RMB1,200 (down RMB6), Chow Tai Fook at RMB1,202 (down RMB6) and Lao Feng Xiang at RMB1,206 (down RMB6). The swift pullback from levels near RMB1,300 per gram on 24th September has encouraged value‑seekers, with social media users remarking that the weekend rush in Shuibei looked “busier than the vegetable market”.
Analysts cited by state financial media attributed the downturn to a confluence of factors: elevated oil prices, a strengthening expectation of a United States Federal Reserve rate increase in December, and tighter global liquidity with ongoing de‑leveraging.