Domestic Gold Prices Continued To Drop For Three Days.

After a reporter visited the Chongqing market yesterday, it was found that the price of gold bars in China had fallen to RMB 220 yuan / g, and the gold ornaments fell by 300 yuan, and the sales of the gold market were low.

Experts believe that the future of the US dollar may be further higher, and that the long-term bear market for gold remains unchanged.

Domestic gold prices continued to drop for three days.

Gold in the previous period has been down three days, and the main contract has fallen by more than 2%.

In October 30th, 31 and November 3rd, gold fell by 2.1%, 2.77% and 2.42% respectively.

Yesterday, the 1412 main gold contracts of the previous period were reported at 229.9 yuan / gram, and the intraday sale was 227.85 yuan / gram the lowest since this year.

Reporters yesterday visited some commercial circles in Chongqing Jindian to see that since November, gold prices have been greatly reduced.

The price of thousands of gold ornaments of Zhou Dafu, Liu Fu jewelry and other Hong Kong brands has dropped to 298 yuan / gram, and the price of thousands of gold ornaments of some mainland brands has even dropped to 260 yuan / gram, and the brands of time limited brands have been released individually, and thousands of gold ornaments are lower to 220 yuan / gram.

Nevertheless, there were not many customers buying gold ornaments yesterday.

"Jin nine silver ten has passed. Last month, during the national day, there were many gold stores promoting sales activities. Now it is a low season for sales."

Sales staff of a mainland brand said.

Investment gold bars, reporters visited a number of banks yesterday's precious metals sales center, found that the current price of investment bars has dropped to around 220 yuan / gram, despite this, the scene is still deserted.

"There are indeed customers who want to copy the bottom, but there are many people asking gold every day, but most of them are just asking, not rushing to buy."

A customer manager of a bank in Chongqing said that the idea of investing gold in Chongqing is more mature than before, and that the price of gold will not be picked up as soon as it falls.

"But now the situation of gold is similar to that of 2008, but it has dropped a lot, but not yet.

If you start this time, you can make money, but earn more and earn less.

The customer manager continued.

The continued decline in gold prices has also made the profits of the gold industry thinner.

The China Gold Yearbook 2014, released by the China Gold Association, shows that China's gold industry achieved a 64.86% decline in profit last year compared with 2012, the first time it has seen negative earnings growth in 11 years.

Recently, the three quarterly reports disclosed by A share gold listed companies also confirm the fact that the performance is not good. In addition to the growth of net profit of old Feng Xiang and Zijin Mining in the three quarter compared with 10% over the same period last year, the performance of many gold listed companies including CICC gold and gold leaf jewellery has fallen more than 10%.