The golden price in the world market falls continually. After plunging below 640$ per ounce, the gold price yesterday was once approaching 630$. On May 12 it was 732$, a drop of 100$ in only 20 days.

Affected by it, the price of gold in the home market also drops violently. In Shanghai Gold Exchange Au99.99 and Au99.95 was down from 190 yuan per gram and closed at 163.6 yuan per gram, making a new record of lowest point in this period.

Since the gold price appreciated consistently in the last period, this depreciation isn't out of expectation.

On May 12, the price of gold in the futures market in COMEX reached 732$per ounce, making it a crest of 26 years. But then it began to fall violently from last Friday and down to 636.20$.

The price fluctuating slightly around 644$ last two days dropped below 630$ yesterday.

It took five months for gold price to rise from 500$ to 600$ per ounce and one month from 600 to 700$. But this time the 100$ decline only took 20 days.

By People's Daily Online