Gold and Silver Plunge! Domestic Gold Price Breaks Below 1000 Yuan

SnapshotLaborer · 2026-03-23T07:59:47+00:00

On March 23rd, domestic gold prices fell sharply, with Shanghai gold prices dropping below 980 yuan per gram. Affected by rising international oil prices and a stronger US dollar, gold has declined for the third consecutive week. The Shanghai Gold Exchange reminds members to pay attention to market risks and prepare contingency plans.

SnapshotLaborer

2026-03-23 07:59:47

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On the morning of March 23, domestic gold prices rapidly fell below 1,000 yuan. The Shanghai Gold Exchange official website shows that the early trading price of gold in Shanghai is 982.63 yuan/gram, and the early trading price of silver in Shanghai is 16,718 yuan/kilogram.

Screenshot of the Shanghai Gold Exchange webpage

As of the time of publication, domestic gold prices have fallen below 980 yuan/gram. Influenced by the “plunge” in gold prices, many domestic jewelry stores lowered the prices of pure gold jewelry today (23rd).

Last week, rising international oil prices triggered concerns about a resurgence of global inflation. The US dollar index increased, and many central banks collectively signaled hawkish policies. Amid ongoing geopolitical conflicts in the Middle East, gold, as a traditional safe-haven asset, experienced its third consecutive week of decline. Notably, the main contract price of gold futures on the New York Mercantile Exchange dropped 9.62%, marking the largest weekly decline in 15 years; silver futures on the main contract fell 14.36%.

Shanghai Gold Exchange: Notice on Strengthening Recent Market Risk Control

On the 23rd, the Shanghai Gold Exchange issued a notice: recent factors affecting market stability are numerous, and precious metal prices have shown significant volatility. All member units are advised to closely monitor market changes, prepare detailed risk emergency plans, and maintain stable market operation. Meanwhile, investors are reminded to exercise risk awareness, reasonably control positions, and invest rationally.

Source: People’s Daily

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