Gold price fluctuates around the $5000 mark, Laomiao Gold fine gold jewelry continues to decline for six consecutive days

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On March 18, the domestic gold consumption market continued its volatile trend, with prices of some brand-name gold jewelry falling for the sixth consecutive day.

Public information shows that as of March 18, Chow Sang Sang’s pure gold jewelry was quoted at 1547 yuan/gram, down 3 yuan/gram from the previous day; Lao Miao Gold’s pure gold jewelry has fallen for six consecutive trading days, now quoted at 1550 yuan/gram, down 2 yuan/gram from the previous day.

Looking back to early March, domestic gold jewelry prices once hit a record high. On March 6, first-tier brands such as Chow Tai Fook, Luk Fook, and Gold Supreme quoted 999 pure gold at as high as 1599 yuan/gram, while Lao Feng Xiang and Lao Miao Gold quoted 1590 yuan/gram. As of March 18, many domestic gold brands’ pure gold prices have retreated more than 100 yuan from their monthly highs.

The price correction is driven by recent sharp fluctuations in international gold prices. On March 4, affected by a significant decline in international gold prices, domestic gold jewelry prices generally fell, with some brands dropping 20 to 55 yuan per day, and Chow Sang Sang dropping 71 yuan/gram in a single day.

International gold prices repeatedly fluctuate around the $5,000/ounce mark, intensifying market divergence between bullish and bearish views. As of the time of this report, London gold is quoted at $5008.09 per ounce, up 0.04%.

During the Asian trading session on March 16, spot gold briefly fell below the $5,000 and $4,970 levels, with the lowest touching $4,967.44 per ounce, with a maximum intraday decline of over 1%.

As the Federal Reserve’s March policy meeting approaches, investors are generally cautious and watchful.

On the early morning of March 19, the Federal Reserve will announce its March interest rate decision, which is the most closely watched event in the global financial markets this week. According to CCTV Finance, the market generally expects the Fed to keep rates unchanged this month, with particular attention on the dot plot—indicating that the Fed may reduce its rate hike expectations from three times earlier to just once within the year.

Guotai Junan released a research report stating that recent market expectations for Fed rate cuts have significantly weakened. Traders have largely ruled out a rate cut in September, expecting only one cut in December. If the Fed signals fewer or delayed rate cuts this year, it could further pressure gold and silver prices.

Despite short-term pressure on gold prices, most institutions believe that the medium- to long-term bullish logic for gold remains unchanged.

Huatai Securities states that geopolitical events in the Middle East have differentiated impacts on non-ferrous metals, with gold benefiting from risk aversion and asset reallocation logic resonance. It is expected that between 2026 and 2028, gold prices could surge to $5,400–$6,800 per ounce.

Ping An Securities believes that, in the medium term, ongoing macro uncertainties overseas continue to support gold’s safe-haven attributes. In the long term, unresolved US debt issues and the lack of a turning point in the dollar’s creditworthiness remain, a trend that has become clearer since Trump took office. The monetary attribute of gold is accelerating, and the medium- to long-term outlook remains optimistic.