China Gold Jewelry Prices Extend Decline as Spot Gold Drops Below $4,100/Oz

Spot gold fell below the $4,100-per-ounce threshold at the open of morning trading on July 8, while major gold brands in China continued cutting listed prices for jewelry, according to Jiemian News. Laofengxiang quoted 1,246 yuan per gram, down 467 yuan from its year-to-date high of 1,713 yuan; Chow Sang Sang quoted 1,249 yuan per gram, down 459 yuan from 1,708 yuan; Chow Tai Fook quoted 1,252 yuan per gram, down 454 yuan from 1,706 yuan; and Laomiao Gold quoted 1,255 yuan per gram, down 467 yuan from 1,722 yuan.