en.Wedoany.com Reported - On June 26, 2026, spot gold in London was quoted at $4,050 per ounce, down $1,548 from the year's high of $5,598 per ounce. Between June 24 and 26, gold prices repeatedly fell below the $4,000 per ounce mark. Spot silver in London was quoted at $58 per ounce, halved from the year's high of $121 per ounce. Affected by the sharp decline in gold prices, the Shenzhen Shuibei gold market welcomed numerous consumers, with one customer purchasing multiple gold necklaces on-site totaling over 80,000 yuan.
Shenzhen Shuibei is one of China's largest gold and jewelry trading hubs. Around 6:00 PM that day, the price of gold bars at Shuibei was reported at 926 yuan per gram, with a recycling price of 869 yuan per gram. Due to booming business, some merchants stated they were temporarily suspending retail sales and only offering wholesale. One merchant, who usually focuses on purchasing agent services, said they had temporarily halted offline retail due to excessive customer traffic. Another Shuibei merchant noted, "Over the past month or so, the value of hoarded gold and silver assets has shrunk by over a million yuan, equivalent to losing a Maybach. It feels like losing money every day."
Recently, international gold prices have continued to decline sharply, falling from the year's high of $5,598 per ounce to around $4,050 per ounce, with a cumulative drop of over 27%. Silver prices have fallen even more drastically, halving from the year's high. The decline in gold prices has triggered a buying spree in the end-consumer market, significantly boosting retail and wholesale trading activity at gold and jewelry hubs like Shuibei. This gold price fluctuation reflects the dramatic adjustment of the global precious metals market amid changes in macroeconomic conditions and monetary policy expectations.
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