Brands such as Lao Feng Xiang and Chow Tai Fook have collectively reduced the prices of gold jewelry.

On Monday, Eastern Time, international oil prices surged, with WTI August crude oil futures closing up $6.73, up 9.42%, at $78.14 per barrel; Brent September crude oil futures closing up $7.29, up 9.59%, at $83.30 per barrel. Spot gold prices took another dive, falling below $4000. As of the time of publication, spot gold is priced at $3997.078 per ounce. Upon checking domestic gold jewelry prices, Chow Tai Fook's 24K gold jewelry is priced at 1214 yuan per gram, down 24 yuan from the previous day; Lao Feng Xiang's 24K gold jewelry is priced at 1216 yuan per gram, down 24 yuan from the previous day. Laomiao's 24K gold jewelry is priced at 1217 yuan per gram, down 20 yuan from the previous day.