Gold jewelry prices fall to about 1,200 yuan/gram, down 100 yuan in a month

This is a direct pass-through of international gold weakness into Chinese retail jewelry pricing, notable because brand-name pure gold jewelry carries a markup that tends to lag spot moves in both directions. The roughly 100 yuan per gram decline over a month signals that the premium is being compressed as retailers adjust to softer underlying metal. The consumers most affected are discretionary jewelry buyers in China, where gold has functioned as both adornment and savings vehicle. The open question is whether retail demand re-accelerates on lower prices or whether the pullback reflects broader caution among buyers.