On May 3rd, during the May Day holiday, gold prices continued to decline. The real-time gold price of Shenzhen Shuibei, a domestic gold distribution center, has synchronously fallen to 780 yuan/gram. The sharp drop in prices has stimulated onlookers to flock, leading to a surge in market traffic. On May 2nd, the reporter went to Shuibei for an on-site visit. At 2pm, the gold shops at Shuibei Jinzhan Jewelry Plaza and Shuibei Wanshan in Shenzhen were completely blocked. Some tourists from other places are carrying suitcases to ‘go shopping’. A gold recycler reported that the scale of gold recycling has been rapidly increasing since mid April. Especially when the price of gold recycling once soared to over 800 yuan, many customers queued up to make appointments for gold recycling. The scale of recycling during the May Day holiday was also very large, so busy that it was “soft handed”, and the daily recycling volume was twice as much as usual. (First Financial)
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