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Shenzhen Gold Dealers See Assets Shrink by Millions After Month-Long Hoarding as Gold, Silver Prices Plummet

GateNews

According to Guru Club, as of June 26, precious metals dealers in Shenzhen's Shuibei market who hoarded gold and silver for over a month reported asset losses of approximately 1-2 million yuan, equivalent to the value of a luxury Maybach.

London spot gold fell to $4,050 per ounce on June 26, down $1,548 from the year's high of $5,598 per ounce. Silver dropped to $58 per ounce from a peak of $121 per ounce.

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