Spot gold climbed, briefly topping $4,300/oz intraday to a seven-week high; futures extended recent gains. The rise transmitted to China’s retail market: Shenzhen Shuibei wholesale quotes for 999 fine-gold jewelry are around 1,100 yuan/gram, about 50

2026-08-06

Spot gold climbed, briefly topping $4,300/oz intraday to a seven-week high; futures extended recent gains. The rise transmitted to China’s retail market: Shenzhen Shuibei wholesale quotes for 999 fine-gold jewelry are around 1,100 yuan/gram, about 50 yuan higher than two days ago. Buying patterns have shifted panic buying from the year‑start — investors are broadly more cautious; demand is now concentrated in wedding-related and value-preservation purchases. Gold recycling and trade‑in activity is uneven across the market.