Gold slump: China’s sales plunge as precious metal’s price dips, leaving buyers wary

Zhou Baolin, who owns a jewellery shop at Yu Garden, a major gold trading hub in Shanghai, has seen his business run hot and cold since the start of the year.
“During the first two months of the year, I sold an average of 2kg to 3kg of gold each day,” he added. “Now daily sales have slumped to just 100 grams or 200 grams.”
Zhou was left to rue losses over the past two months because of a downturn in global gold prices, with his sales plunging by around 90 per cent.
As he saw it, Chinese...