en.Wedoany.com Reported - Issue 36 of Gold Economic Reference systematically reviews the downward fluctuation of gold prices, corporate strategic advancements, policy and regulatory improvements, and industry trend outlooks, providing a reference for the industry to grasp market changes and transformation directions.
This issue's corporate dynamics show that gold enterprises are accelerating resource development and technological innovation. China National Gold Group is speeding up multiple gold mine projects, aiming for the two-way circulation of domestic and international resources and two-way industrial layout. Zijin-controlled Shapinggou, a world-class molybdenum mine, has commenced construction. Shandong Gold Group's deep well mining laboratory achieved one result, and its beneficiation and metallurgy laboratory obtained two national invention patents. Sun Haowen has been appointed General Manager of Zhaojin Group. Henan Gold Group Co., Ltd. was officially established. In the jewelry sector, Mokingran ranked 192nd on the 2026 "China's 500 Most Valuable Brands" list; Chow Tai Seng Jewelry ranked 96th. Caibai signed a letter of commitment to integrity and self-discipline, while Lusson Jewelry shareholders reduced their holdings by 1.01%. Chow Tai Fook Jewelry released its fiscal 2026 results, achieving record-high profits. Linchao Jewelry's Nanjing Deji store delayed its debut. Hongyi Jewelry shone at the Paris International Fair.
Industry data shows that the Ministry of Natural Resources held a mobilization and deployment meeting for the "15th Five-Year Plan" phase of the new round of strategic mineral prospecting breakthroughs. Sichuan held a centralized promotion conference for 2026 mining rights transfer blocks, promoting 32 key high-quality blocks. In May, retail sales of gold, silver, and jewelry commodities fell by 8.9%. The "Molten Gold, Refined Essence" Shenzhen Shuibei Gold and Jewelry Art Exhibition opened in Beijing. 45% of surveyed central banks expect to increase gold holdings in the next year, setting a record in the survey's history. The Secretary for Financial Services and the Treasury of the Hong Kong SAR Government stated that gold would be used as an entry point to deepen cooperation with the Shanghai Gold Exchange. The Bank of Communications signed a cooperation memorandum with the Shanghai Gold Exchange. The Industrial and Commercial Bank of China and China Construction Bank announced they would suspend their agency precious metal trading business for the Shanghai Gold Exchange, while the Bank of China and China Guangfa Bank adjusted margin ratios for deferred contracts.
On the policy front, the Ministry of Natural Resources clarified four scenarios where mining rights transfer proceeds can be reduced or exempted. The People's Bank of China and the General Administration of Customs jointly issued the "Measures for the Administration of Import and Export of Gold and Gold Products (Draft for Comments)." Xinjiang introduced management measures for the approval of temporary land use for open-pit mining of strategic mineral resources. The Guangdong Gold Association released two group standards: "Guidelines for the Construction of School-Enterprise Collaborative Education Platforms in Gold and Jewelry Industrial Parks" and "Technical Specifications for Fine Gold Embroidery Craftsmanship."
Price trend analysis indicates that in the second half of June, due to the cooling of the Middle East situation and the hawkish stance of Federal Reserve Chairman Walsh, international gold prices fluctuated downward, once falling below the $4,000 per ounce mark. Looking ahead to July, the weight of international factors is decreasing while U.S. factors are increasing, requiring attention to Federal Reserve Chairman Walsh's statements at the European Central Bank forum. Another viewpoint emphasizes that gold prices cannot be simply determined by supply and demand; capital games determine prices, with long and short forces outweighing all else. The volatility of precious metal prices is essentially the result of capital transactions.
The "Major Trends" column focuses on private mining enterprises going overseas and Guizhou's prospecting potential. Lu Xiaozhao, Vice Chairman of Chifeng Jilong Gold Mining, pointed out that private mining enterprises "going global" must transform from "resource buyers" to "asset operators," and future mining companies will essentially be a combination of "resources and finance." Zhou Qi, Chief Scientist of the Guizhou Bureau of Geology and Mineral Exploration and Development, stated that Guizhou holds enormous potential for gold prospecting, with proven reserves of about 700 tons and conservative estimates of prospective resources exceeding 1,000 tons, with Carlin-type gold deposits being the core direction for future resource growth.
In the international perspective, Barrick launched a $3 billion share buyback plan. Central Asia Metals expanded its business to the Canadian market. The United States and India signed a critical minerals cooperation agreement. Australia's gold production in the first quarter fell 3% quarter-on-quarter to 75 tons. South Africa's mining production in April increased by 8.2% year-on-year.
