Gold Jewelry Prices Fall About 150 Yuan Per Gram as COMEX Gold Drops Below $4,200

The notable detail here is the divergence between price action and foot traffic: retail demand at Shuibei is being described as brisk even as quotes fall, which is the pattern typically associated with price-sensitive buyers treating a pullback as an entry point rather than a signal to stay away. That matters most for branded jewelers, whose margins depend on the gap between bullion-linked input costs and retail markups, and for the Shuibei wholesale hub as a read on underlying Chinese physical demand. Whether that visitor flow survives further declines in COMEX and Shanghai quotes is the open question.