The price of gold has been dropping all the way, with sales of gold jewelry in retail stores soaring while investment in gold remains cold.

Last Friday, spot gold fell below the $4500 per ounce mark during trading, marking the eighth consecutive trading day of decline. This led to a continuous drop in domestic gold prices, catching the attention of many consumers. A visit by reporters on the 21st found that many gold shops in Shanghai were experiencing a peak in customer flow. At 3 pm on the 21st, at a gold sales store in the Huangpu district of Shanghai, reporters noticed that within just a few minutes, there were six or seven consumers coming to the counter to inquire about the price of gold. Reporters learned that the price of gold at that store that day was 1058 yuan per gram, a decrease of over 10% from the previous week. Reporters visited several gold sales stores and found that gold jewelry with decorative properties such as ancient gold and 3D hard gold were more popular among consumers during the decline in gold prices, while investment gold bars were relatively quiet with fewer consumers inquiring. Some store managers also mentioned that the volume of gold recycling business has been decreasing recently.