Chow Tai Fook delays price adjustment for "fixed-price" products; store staff say: "We have received the new price tags, just waiting for headquarters' notification."

On March 24, influenced by the high correction in international gold prices, the prices of branded gold jewelry continued to decline. On that day, Chow Tai Fook reported 1346 yuan/gram, a decrease of 29 yuan/gram compared to the previous day; Chow Sang Sang reported 1350 yuan/gram; and Lao Feng Xiang reported 1345 yuan/gram. Market news indicates that the fluctuating downward gold prices have disrupted some brands’ price increase plans, and Chow Tai Fook’s “fixed price” product adjustment plan has been postponed multiple times. In response, a reporter from China Securities contacted several Chow Tai Fook stores in Beijing for verification and learned exclusively that the price adjustment plan has indeed been delayed. However, the stores stated that they have already received new price tags allocated by headquarters, but they have not yet changed them. “We are just waiting for the notice from headquarters. If there is a price adjustment, we will change the labels immediately. Currently, the prices of ‘fixed price’ products are generally higher than the current gold price, and the processing fees are also more expensive than those calculated by weight. The gold price has fluctuated significantly in the past two days, temporarily delaying the price adjustment plan. Future adjustments will be based on headquarters’ notifications,” the sales personnel told the China Securities reporter. (China Securities Golden Bull)