Domestic spot gold has tumbled in June, sliding from above 980 yuan/gram at the
start of the month, prompting multiple brands to cut pure-gold retail prices. At
Shenzhen’s Shuibei market foot traffic remains steady but many consumers are
sitting on the sidelines, adopting a buy-the-rally stance and delaying
purchases. The price pullback has nevertheless revived some just-needed demand:
wedding-related orders have picked up and helped some retailers post
year-on-year sales gains. Large one-off orders have increased at Shuibei — both
investment bars and wedding buyers placing purchases worth several hundred
thousand yuan are higher than last year. Upstream wholesalers, which had tightly
controlled inventories during the prior rally, are now accelerating restocking
as prices fall.
