Retail gold saw renewed price cuts after the National Day holiday as several jewelry brands prolonged holiday promotions. Store checks found many outlets maintaining National Day discounts, with Shanghai gold moving into the 800‑yuan range. Zhou Ting, head of Key Customer Research Institute, said unlike past upcycles—when rising gold prices sustained industry margins and made store pricing less synchronized—today’s high‑level volatility, strong consumer wait‑and‑see sentiment, intensified compet

Retail gold saw renewed price cuts after the National Day holiday as several jewelry brands prolonged holiday promotions. Store checks found many outlets maintaining National Day discounts, with Shanghai gold moving into the 800‑yuan range. Zhou Ting, head of Key Customer Research Institute, said unlike past upcycles—when rising gold prices sustained industry margins and made store pricing less synchronized—today’s high‑level volatility, strong consumer wait‑and‑see sentiment, intensified competition and inventory buildup have made routine discounts necessary to drive sales. The recent price pullback has created a buy‑the‑dip atmosphere; market markdowns combined with store promotions constitute a dual stimulus and reflect industry cost‑management under pressure.