On January 31, the task force from Shenzhen's Luohu District issued a situation update.
The Luohu District task force continues to intervene in handling the operational anomaly incident of Shenzhen Jeweray Jewelry Co., Ltd. The latest developments are reported as follows.
First, under the supervision of the task force, Jeweray Company is disposing of assets and raising funds, and has already commenced repayments.
Second, Jeweray Company has opened an online channel for signing and repayment agreements and has established an offline liaison office at Luohu Sports Complex, 48 Jing'er Road, Luosha Highway, Luohu District.
Third, under the oversight of the task force, Jeweray Company has engaged a third-party professional firm to audit its operational status. Preliminary results indicate that the amounts being circulated online are significantly exaggerated.
Fourth, the task force has set up public inquiry hotlines: 0755-25690100 and 0755-25690162 (available daily from 9:00 to 18:00, including weekends).
Fifth, relevant departments are currently verifying various leads and will handle the matter according to laws and regulations.
The public is urged not to believe or spread rumors, and to jointly maintain a good social order and online environment.
Previously, the Shenzhen Shuibei gold pre-pricing platform "Jeweray" encountered difficulties in meeting its payment obligations.
Public information shows that "Jeweray" is controlled by Shenzhen Jeweray Jewelry Co., Ltd., a gold raw material trader from Shuibei, Shenzhen. In recent years, its business has gradually shifted towards precious metal retail and has opened gold pre-pricing transactions to retail investors.
Influenced by factors such as profit-taking and long position liquidations by short-term futures traders, international gold and silver prices continued to fall sharply on January 30, recording their largest single-day declines in decades.
The April gold futures contract on the COMEX briefly fell below the $4,800 per ounce mark on the 30th, dropping over 10% for its largest single-day loss since the 1980s. The March silver futures contract briefly broke below the $80 per ounce mark, plummeting over 30% to set a record for its largest single-day decline ever.
Market analysis suggests that U.S. President Trump's nomination of former Federal Reserve Governor Kevin Warsh as the next Fed Chair on the 30th exacerbated the sharp decline in precious metal prices. Warsh has publicly criticized the side effects of quantitative easing and believes the Fed needs to coordinate policy more closely with the U.S. Treasury.
Comments