On February 2, spot gold experienced significant volatility, plummeting over 6% intraday. As of the latest update, the decline has narrowed, with the current price at $4,732.43 per ounce.
According to inquiries, Chow Sang Sang's pure gold jewelry is priced at 1,484 yuan per gram, a drop of 134 yuan from the previous day's price of 1,618 yuan.
On February 2, the A-share nonferrous metals sector continued to open significantly lower across the board, with over thirty stocks, including Baiyin Nonferrous Group Co.,Ltd., Hunan Silver, China Gold, and Zhaojin Gold, hitting the daily downward limit.
In the Hong Kong stock market, nonferrous metals stocks also led the declines. China Gold International fell over 12% at one point, Chifeng Gold dropped more than 9%, while Shandong Gold and China SIlver Group both declined over 8%.
Furthermore, the per-gram price of some brand gold jewelry has fallen below 1,500 yuan. According to Chow Sang Sang's latest quote on the 2nd, pure gold jewelry is priced at 1,484 yuan per gram, a decrease of 134 yuan from the previous day's 1,618 yuan.
On February 2, the Shanghai Gold Exchange issued a "Notice on Adjusting Margin Levels and Price Limit Parameters for Silver Deferred Contracts."
The notice stated that due to the current large fluctuations in silver prices, and to prevent market risks in accordance with the relevant provisions of the "Shanghai Gold Exchange Risk Control Management Measures," the Shanghai Gold Exchange has decided to adjust the trading margin levels and price limit ratios for silver deferred contracts. The relevant matters are notified as follows:
If a one-sided market situation occurs for the Ag (T+D) contract on Monday, February 2, 2026, then starting from the closing settlement time, the margin level for this contract will be adjusted from 20% to 26%, and the daily price fluctuation limit will be adjusted from 19% to 25% effective the next trading day.
If a one-sided market situation does not occur, the margin level and price fluctuation limit for the Ag (T+D) contract will remain unchanged.
The notice indicated that all members should enhance risk awareness, meticulously prepare risk contingency plans, remind investors to undertake risk prevention measures, reasonably control positions, invest rationally, and ensure the stable and healthy operation of the market.
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