Gold Prices Drop Below $1300, Jewelry Industry Once Again Cut Price Is A Foregone Conclusion.

< p > by the news of the tightening of the QE scale implied by the Fed chairman Burke, the price of gold fell again last Thursday. The price of all Zhou Guoji gold dropped by more than 6.69%, and the price dropped to 1200 US dollars / ounce, which set a new low price of gold in the past three years.

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< p > June 24th, the reporter contacted a number of China's gold stocks listed companies, whether from upstream collection, mining companies, or downstream gold jewelry sales companies, they all said that the decline in the price of gold has little impact on the company, and even can be ignored, but from yesterday's stock prices, it is not like what they say "little impact".

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< p > opening yesterday, all the gold stocks in the market showed a downward trend. At the close, Chenzhou Mining industry lost the highest level of 9.92%, while the remaining stocks in Yuguan and gold and lead dropped by 9.01%, while ronghua, Jin Guyuan and hang Bang shares fell by more than 5%. In addition to the suspension of gold in Shandong, gold leaf jewelry declined the smallest, but still 4.21%.

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< p > < strong > jewelry industry is affected < /strong > < /p >.

< p > < strong > repeatedly downgrading price < /strong > < /p >

< p > since April this year, the price of gold has been on the decline. As of June 20th, the gold price in the international market has dropped to below 1300 US dollars / ounce, reaching a new low of 33 months, which has fallen by more than 30% compared with the highest 1920 US dollars / ounce in 2011.

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< p > because gold has many attributes, its price is not only influenced by commodity supply and demand, but also depends on many factors such as international politics, economy, foreign exchange market, interest rate and monetary policy of main countries in Europe and America, the increase and decrease of central bank's gold reserves, the rise and fall of gold mining cost, and the increase or decrease of industrial and ornament gold.

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In June 21st, when the price of gold jewelry was lowered by 6 yuan per gram in June 21st, gold stores in Beijing once again lowered the price of gold jewelry.

Among them, Beijing vegetable hundred thousand gold dropped to 355 yuan / gram, 8 yuan per gram reduction, as of June 21st, a total of 14 yuan / gram, such a substantial reduction in gold jewelry prices are rare.

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< p >, according to the reporter's understanding, the gold price reduction is the sixth time this year.

Insiders said that this year the price of gold jewelry has been reduced by more than 60 yuan / gram.

"Gold jewelry prices for two consecutive days of the situation is very rare."

The above said, "in September 2011, the price of gold jewelry has been lowered for two times in a week, but there is no such short interval."

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< p > by June 24th, the price of gold ornaments of the major gold jewelry sellers still did not improve. The price of old gold phoenix was 358 yuan / gram, the price of Zhou Dafu gold was 339 yuan / gram, the price of the six blessing jewellery was 339 yuan / gram, and the price of vegetable hundred was 355 yuan / gram.

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< p > for the price drop of gold ornaments in June 21st, a jewelry salesperson explained that after adjusting the price of gold ornaments the day before, the international gold price jumped again and fell below the US $1300 mark that night, so the adjustment of the first day was small, so that we had a second day continuous price adjustment.

"Now the price of gold raw materials and processing costs are more pparent, so the price adjustment of gold must be closely related to the market."

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< p > and the price of gold ornaments is not optimistic now. Will it affect the performance of the big gold stocks in the first half of this year? < /p >

< p > < strong > 7 companies reported in advance notice < /strong > < /p >

< p > < strong > half already pre reduced < /strong > < /p >.

< p > according to wind data, 7 of the 21 gold and jewelry concept stocks in China's A share market have released the 2013 results announcement.

Among them, Chenzhou Mining pre reduction, hang Bang shares continued surplus, Chao Hongji and thousands of feet pearl slightly increased, Ming jewelry and Zijin Mining slightly reduced, Dongjin Yu expressed uncertainty, and said that the beginning of the next reporting period to the end of the cumulative net profit forecast.

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< p > from a specific point of view, although the net profit of the Chenzhou Mining Company was forecast to be 125 million yuan to 219 million yuan in 2013, its net profit dropped by 30% to 60%.

Although the performance of Hang Bang shares continued to increase, its net profit growth range was between -30% and 10%.

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The two companies, which are expected to slightly reduce from P to China, show that the net profit of Ming jewellery is 28 million yuan to 41 million yuan, down 12.02% to 39.91% compared with the same period last year. Zijin Mining did not show specific results in the notice, only indicating that the performance had dropped considerably.

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< p > up to now, although only 7 announced performance forecasts, the number of companies whose performance was pre cut was significantly higher.

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< p > some analysts told reporters yesterday: "although the price of gold continues to fall, the performance of listed companies of A share gold concept in China is not necessarily" annihilated completely ". Because of the problem of gold's current attribute, that is, currency is also a commodity with financial attributes, and those listed companies may have hedging to maintain their performance.

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< p > and there is still a heated debate about the issue of gold monetization.

At present, Li Yang, vice president of the Chinese Academy of Social Sciences, said that gold is not likely to be monetized again. Price instability is an important reason why it can not become a currency again.

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< p > in recent years, because of the European debt crisis and the continuous quantitative easing policy of the United States, the market has a high voice for the re establishment of the "gold standard" monetary system.

Li Yang believes that the call for re monetization of gold in the financial crisis is only to express people's dissatisfaction with the current monetary system. Gold is not likely to be monetized again, and no longer expect it to become a monetary system.

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< p > Li Yang believes that the reasons why gold can hardly be monetized are mainly in five aspects: first, the lack of global gold production, which can not keep up with the needs of economic production and trade; two, the serious uneven distribution among countries; three, the price instability; the most important task of monetary policy is to stabilize prices; four, it is necessary to establish a monetary system based on gold, which may increase the cyclical fluctuation of the economy; and five, it is difficult for gold as a currency to regulate and control social and economic development independently.

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