Due to multiple bearish factors, most golden industrial concept stocks fell today. As of press time,$ZHAOJIN MINING (01818.HK)$Fall by more than 10%.$SD GOLD (01787.HK)$fell more than 8%, $CHINAGOLDINTL (02099.HK)$fell more than 6%. International gold prices continue to weaken, causing pressure on the gold sales market. According to reports,

In recent news, the latest data released by China's central bank last Friday showed that China's gold reserves were 72.8 million ounces, unchanged from the end of April. It has been rising continuously for 18 months before this.

Note: The performance of China's central bank gold reserves since June 2021.

In addition, Friday's release of U.S. non-farm payroll data had a significant impact on the market. The new employment was far higher than expected at 272,000, and wage growth was higher than expected at 0.4%. This suppressed expectations of a U.S. interest rate cut, causing the dollar and U.S. bond yields to soar, putting significant pressure on gold.

Affected by the above news, during the Dragon Boat Festival holiday, the international gold price fell by 2.73%, with a closing price of $2,310.95. In addition, compared to the high point of $2,449.98 in mid-May, the price of gold has fallen by more than 4%.

As of the time of publication, today's international gold price continues to weaken, down 0.49% to $2,299.58.

The weakening of the gold price is putting pressure on the gold sales market.

during the Dragon Boat Festival,$Lao Feng Xiang (600612.SH)$, $Guangdong CHJ Industry (002345.SZ)$, $LUK FOOK HOLD (00590.HK)$and other gold brands' prices for solid gold jewelry have dropped compared to last week, but they are still at a relatively high level, and consumers are hesitant to buy. On the day of the Dragon Boat Festival, a salesperson at a branded gold store told Cailian News that "customer traffic in the store is not high, and if the consumer does not have an urgent need, they are less likely to make a direct purchase."

According to Jinglan gold price query website, on June 7th, Guangdong CHJ industry, Luk Fook Jewelry,$Chow Tai Seng Jewellery (002867.SZ)$and other branded gold prices reached as high as 731 yuan/gram during the Dragon Boat Festival, and they all fell to varying degrees on the first day of the holiday. Among them, Lao Feng Xiang and Laomiao gold prices both fell to 706 yuan/gram and 703 yuan/gram, respectively, a decrease of 23 yuan and 26 yuan from June 7th.

Currently, most branded gold prices are still at a high level above 700 yuan/gram (around 620 yuan/gram at the beginning of the year). Major gold stores are launching promotional activities to boost sales during the Dragon Boat Festival. Cailian News learned from sales channels that Luk Fook Jewelry offers a discount of 40 yuan/gram for purchasing solid gold jewelry, and the discounted price for 20-gram jewelry is 668 yuan/gram based on the solid gold jewelry price of 708 yuan/gram on June 10th. The activity lasts until the 16th of this month.$CHOW TAI FOOK (01929.HK)$offers a discount of 20 yuan/gram for 20g or less during the Dragon Boat Festival. If a single item is more than 20g, the price can be reduced by 30 yuan/gram based on the gold price (excluding workmanship fee).

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