▌ Gold prices plummet dramatically! A once-in-a-millennium market situation emerges.
Early this morning, international gold prices suddenly took a nosedive, with spot gold prices plummeting 2% to break through the crucial support level of $3,230 per ounce. Domestic jewelry brands like Laomiao Gold also saw their gold prices drop below the psychological barrier of 1,000 yuan (995 yuan/gram), marking the largest single-day drop in nearly three years. Related topics: Gold prices continue to plunge, quickly trending hot searches, with views instantly surpassing 300 million!
▌ A night of terror: A millionaire loses 470,000 in smoke.
On a well-known financial platform, a mysterious investor showcased shocking trading records: On April 22, he heavily invested over 10 million yuan in gold accumulation at a high price of 829 yuan/gram, but the next day he faced a flash crash in gold prices, suffering a loss of up to 470,000 yuan after cutting losses! 'It felt like taking a roller coaster ride without a seatbelt,' the investor lamented in the comments, attracting thousands of viewers.
▌ The bank urgently sounds the alarm! These new regulations must be known.
In the face of severe fluctuations in gold prices, five major banks including ICBC and China Construction Bank issued risk warnings overnight:
• Bank of Communications urgently raises the minimum purchase threshold for gold accumulation to 50,000 yuan.
• China Merchants Bank raises transaction fees by 0.5 percentage points. • Bank of China suspends trading of certain leveraged gold products. 'Buying 1 gram of gold now costs 20 yuan more in fees than last week,' revealed a bank wealth manager, noting that some clients have been forced to close positions due to insufficient margin.
▌ A global market earthquake! The mastermind behind it is...
The World Gold Council's latest report shows that behind the 38% year-on-year surge in gold prices in the first quarter lies three major driving forces:
1️⃣ The U.S. suddenly imposed tariffs on Chinese goods, triggering a rush to safe-haven assets. 2️⃣ The escalation of the Middle East situation stimulates a 'chaotic era buying gold' mentality. 3️⃣ Wall Street giants collectively go long on gold ETFs, but now with the Fed's hawkish signals and a rebound in the dollar, the 'bubble' in gold is punctured instantly. Analysts warn: 'The current volatility in gold prices has exceeded that during the pandemic in 2020; ordinary investors should not blindly try to catch the bottom!' ▌ Where will the Chinese aunties go from here?
Reporters visited the main store of Beijing Caibai Jewelry and found:
• A rare 'order cancellation wave' appears at gold counters. • The queue for exchanging old gold for new stretches outside the mall. • Post-90s individuals begin to sell off their marriage gold.
"I just bought a 100-gram gold bracelet for my daughter last month; now it's worth less than a Wuling Hongguang," a lady complained as she looked at the real-time gold price display. Meanwhile, young investors are turning to gold recycling platforms, with data from a trading website showing a 700% surge in gold resale volume within 24 hours!
