Gold Prices Rise for Four Consecutive Days, Reviving Shenzhen's Shuibei Market? 'Buy on Rising, Not Falling' Strategy Drives Consumer Purchases, One Merchant Reports 80% Weekly Sales Surge; Analysts Suggest Gold Could Continue Upward Trend in Second Half | Exclusive Report

After a period of high-level volatility, international gold prices have staged a phased rebound. An exclusive visit by our reporter to the Shuibei gold trading market in Shenzhen revealed that gold prices have risen for four consecutive days this week.

The selling price of gold in Shuibei has rebounded to 960 yuan per gram, sparking a surge in 'buying on the uptick' sentiment among consumers. One merchant reported to our journalist that their store's daily sales volume has jumped from approximately 200 grams last week to between 300 and 400 grams this week, with the increase reaching nearly double in some cases.

However, merchants also acknowledge that current market foot traffic remains significantly lower than when gold prices were at their peak in January this year. Regarding the outlook, analysts believe the recent decline in gold prices is primarily due to the Federal Reserve's pause on interest rate cuts. Yet, the long-term rationale for gold remains unchanged. If global central banks continue to purchase gold, prices will receive strong support, potentially leading to another round of upward movement in the second half of the year.