Since hitting a record earlier this year, international spot gold has fallen for
several sessions; on June 11 spot gold briefly dipped below $4,100/oz. Domestic
retail gold prices have also eased: Shenzhen Shuibei market quotes gold jewelry
around 1,060 yuan/gram. Weekday foot traffic and buyers have increased, and
previously sidelined wholesalers are restocking—procurement activity has visibly
recovered. At a Beijing Xicheng store the investment-gold counter was crowded
and there were long queues at the gold-bar checkout; purchase demand is strong
while buyback demand has eased.
