International gold prices have recently retraced, briefly dipping below
$4,000/oz. A visit to Shenzhen's Shuibei jewelry market found sustained foot
traffic after the Dragon Boat Festival but strong wait‑and‑see sentiment.
Merchants say overall sales have dropped sharply from last year's gold rally,
with transaction volumes under 50% year‑on‑year. Buyers who bought at higher
levels are much less willing to repurchase; most view current prices as high and
cite an ideal entry near 500 yuan/gram. With prices volatile, purchases are
limited to small personal pendants rather than large bullion accumulation.
