Chow Tai Fook’s HK Gold Price Drops HK$1,422 a Tael in a Day
The jeweller's quoted price fell to its lowest level in the 30-day period as international bullion prices suffered their sharpest decline in weeks.
Chow Tai Fook's Hong Kong jewellery gold price fell HK$1,422 to HK$44,729 a tael on 31 October, the day after gold settled at its lowest level in more than a year in New York.
The board read HK$46,151 on 30 October, a 3.1% drop, according to price listings that carry the jeweller's quotes, including Sina Finance and GoldPriceHK.com. It stood at HK$46,825 on 28 October, so it is HK$2,096, or 4.5%, lower in three days. GoldPriceHK.com's 30-day table showed 31 October as the low of the period. The high was HK$48,509.
Comex December gold futures settled Friday at US$3,898.90 an ounce, down 3.3% on the session. That was the lowest settlement since 2 October 2025.
Dana Samuelson, president of American Gold Exchange, told MarketWatch that a sharp equity selloff had spilled into precious metals, as investors who lost money on stocks sold gold to raise cash. The Nasdaq Composite fell 2.9% on Friday, the S&P 500 1.8% and the Dow 1.1%. Kitco reported that higher oil prices and expectations of a Federal Reserve rate rise in December were also weighing on bullion. Gold was about 28% below its January record close of US$5,419.83, Mining.com said.
The quote is the jeweller's base price and excludes workmanship charges, Sina Finance's table noted. Chow Sang Sang listed HK$44,653 a tael and Luk Fook HK$44,649 for 31 October, within HK$80 of Chow Tai Fook's board. A piece weighing one tael priced off the Chow Tai Fook board cost HK$1,422 less than a day earlier, before those charges.