Oil prices plummet, drawing attention! Jewelry prices closely follow the upward trend, climbing steadily

The international crude oil market has recently seen sharp volatility. During the afternoon trading session on April 1, Brent crude oil futures prices suddenly plunged, falling below the $100 per barrel integer mark for the first time in a week; they ultimately closed down 5.05%. This trend sharply contrasts with the prior period of sustained trading at high levels and has drawn widespread attention from the market regarding the outlook for energy prices.

In contrast to the crude oil market, the precious metals market has shown strong performance. Spot gold prices have continued their uptrend for several days; on April 1, during intraday trading, they broke through the $4,700 per ounce mark, with the highest reaching $4,703. The intraday gain exceeded 0.7%. Silver prices have also been active, trading with fluctuations around $75 per ounce, with the latest quote at $74.9 per ounce. Over the past three trading days, gold’s cumulative gain has already exceeded 6%, making it a focus of attention in global financial markets.

International market volatility has quickly transmitted to the domestic consumption end. Multiple well-known jewelry brands simultaneously raised their retail prices for gold jewelry. Among them, the Zhou Sheng Sheng brand’s gold price rose by 55 yuan per gram in a single day, jumping from 1,400 yuan to 1,455 yuan per gram; Lao Miao Huang Jin reached 1,460 yuan per gram, up 45 yuan from the previous day; and the Lao Feng Xiang brand’s gold price was also raised by 40 yuan to 1,448 yuan per gram. The magnitude of this price adjustment is rare in recent times, reflecting the direct impact of fluctuations in international gold prices on the terminal consumer market.