Chow Sang Sang gold reads 1,200 yuan a gram, 14.8% below 25 August
Chow Tai Fook quoted 1,202 yuan and Lao Miao 1,196 on 24 October, after cuts of 6 to 12 yuan on the day. Shenzhen's Shuibei market drew weekend crowds, Qianjiang Evening News reports.
By Carat Capital
What changed
Another step down. Chow Sang Sang's pure-gold counter read 1,200 yuan a gram on 24 October, down 6 yuan on the day. Its 25 August level was 1,408.
What it means
- If you buy gold jewellery in China: The four big brand counters sit within 10 yuan of each other, near 1,200.
- If you price against a counter: These are retail boards carrying workmanship and margin, not spot metal.
- What this is not: A spot price. The tape's gold bid, Friday's close, is $3,994.90 an ounce.
Key figures
| Chow Sang Sang, yuan/g−6 on the day | 1,200 |
|---|---|
| Chow Tai Fook, yuan/g−6 on the day | 1,202 |
| Lao Miao, yuan/g−12 on the day | 1,196 |
| Lao Feng Xiang, yuan/g−6 on the day | 1,206 |
Source: Qianjiang Evening News via Sina, 25 October 2026, giving brand boards for 24 October. Yuan per gram, pure-gold jewellery. The 25 August levels are from Carat Capital's report of 27 August.
About 100 yuan in a month
Near 1,300 before. Brand counters stood near 1,300 yuan a gram on 24 September, the report says. A month later they are about 100 yuan lower.
Cuts of 6 to 12. Lao Miao cut 12 yuan on 24 October. Chow Sang Sang, Chow Tai Fook and Lao Feng Xiang each cut 6.
14.8% below August. Against its 1,408 yuan on 25 August, Chow Sang Sang's 1,200 is 14.8% lower.
| Brand | 24 October | On the day | 25 August | Below 25 August |
|---|---|---|---|---|
| Chow Sang Sang | 1,200 | −6 | 1,408 | 14.8% |
| Chow Tai Fook | 1,202 | −6 | 1,410 | 14.8% |
| Lao Miao | 1,196 | −12 | 1,407 | 15.0% |
| Lao Feng Xiang | 1,206 | −6 | 1,406 | 14.2% |
Carat Capital's divisions: 1,200/1,408 = 85.2% of the August level, so 14.8% below; 1,202/1,410 = 85.2%, 14.8% below; 1,196/1,407 = 85.0%, 15.0% below; 1,206/1,406 = 85.8%, 14.2% below.
Shuibei filled up
Weekend crowds. Shenzhen's Shuibei jewellery market drew crowds on Saturday 24 October, the report says. Buyers posted online that it was busier than a vegetable market.
Cut on spot's fall. The report ties the 24 October cuts to the fall in international gold prices.
What to watch
- Monday 26 OctoberThe first spot gold session since Friday's close.
- DailyThe brand boards. A return to 1,250, the early-October level, would retrace about half the month's fall.
The story so far
Go deeper
Corrections
Corrected, 26 October 2026: a watch line said a return above 1,250 yuan would undo the month's fall. On this page's own figures, counters fell about 100 yuan from near 1,300 to 1,200, so 1,250 retraces about half. A paragraph headed 'Counters lag spot' said a move in the metal reaches brand boards later, and a watch line said the boards follow spot with a lag. The source does not say so; it ties the 24 October cuts to the fall in international gold prices. Both now follow the source. A sentence now also prints the division behind the headline's 14.8%: 1,200 against 1,408. What was right as published: every figure. Found by Carat Capital's Standards desk on 25 October 2026.
What would change this call
Brand boards back above 1,250 yuan within the week. Then 24 October was a dip, not a new level.
How a brand board works
Chinese jewellery brands post a daily price per gram for pure-gold jewellery. It includes workmanship and margin over the metal, so it runs above the bullion price. Each brand sets its own board.
Method
Qianjiang Evening News, carried by Sina, datePublished 2026-10-25 11:00:41, fetched by the Editor on 25 October 2026, 200, 38,315 bytes, read in the body: '10月24日国内多家品牌足金饰品价格下调'; '老庙黄金足金饰品报1196元/克，较前一日跌了12元' (1 hit); '周生生足金饰品报1200元/克，较前一日跌了6元' (1); '周大福足金饰品报1202元/克，较前一日跌了6元' (1); '老凤祥足金饰品报1206元/克，较前一日跌了6元' (1); '此前9月24日，国内品牌金饰克价普遍在1300元/克附近' and '金饰价格已下跌约100元'; '昨日（10月24日） 深圳水贝迎来人流'. The report also carries a spot price from CCTV Finance and an analyst's three causes; neither is printed, under the house's one-price rule and because the causes are one analyst's view. Translations are Carat Capital's. 25 August levels from Carat Capital's 27 August report of ten brand boards (Chow Sang Sang 1,408, Chow Tai Fook 1,410, Lao Miao 1,407, Lao Feng Xiang 1,406), opened. The early-October level of about 1,250 is from Carat Capital's 3 October report. ARCHIVE, by entity and period: 'Chow Sang Sang' 15 rows, newest three opened: 5 October (Shuibei wholesale, 3 October), 3 October (2 October boards, 1,249) and 1 October. Ours covers boards to 3 October; this covers 24 October. ADVANCED. Read on 25 October in the same body: '受国际金价下跌影响' (1 hit), the report's stated cause of the 24 October cuts.