Gold Ornament Prices in China Drop Over 300 Yuan per Gram as International Gold Breaks Below $4,500

According to CCTV Finance, international gold prices fell below $4,500 per ounce during intraday trading on June 1, marking a significant retreat from earlier highs this year. China's retail gold ornament prices have followed suit, with leading brands in Beijing's market currently trading at 1,340 to 1,370 yuan per gram, down more than 300 yuan from the year-to-date high of 1,600 to 1,700 yuan per gram, representing a decline of roughly 20 percent. The pullback has driven increased consumer demand for jewelry purchases.
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