Movement Alert｜Chow Tai Fook Falls 3.06% in Regular Trading, International Gold Price Breaks Below $4000 as Jewelry Prices Plunge Nearly 30% from Year High

Market Focus06-30

On June 30, Chow Tai Fook fell 3.06% in regular trading, trading at HKD 10.76/share, with turnover of HKD 64.62 million.

The decline was driven by a sharp selloff in spot gold, which broke below the $4,000/oz level and continued sliding to approximately $3,960, representing a cumulative drop of over $1,600 from its year-to-date high. Chow Tai Fook's pure gold retail price fell to RMB 1,208/gram, down 498 yuan from the year's peak of RMB 1,706, a decline of nearly 30%. Multiple global investment banks have cut gold price forecasts, with Deutsche Bank lowering its Q3 target to $4,300/oz and Goldman Sachs reducing its year-end forecast by $500 to $4,900/oz.

The broader gold jewelry sector has been under sustained pressure as high gold prices weigh heavily on end-consumer demand. Industry data showed mainland China gold jewelry consumption plunged 37.1% year-over-year to 84.6 tonnes in Q1, while Chow Tai Fook net-closed over 900 stores in its most recent fiscal year amid a persistent volume decline despite higher selling prices.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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