| Last Updated(Beijing Time):2007-05-30 11:28 |
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The retail price of gold and platinum jewelry in Shanghai were cut from yesterday, the first drop following eight consecutive increases this year.
The base retail price of gold will be cut to 196 yuan a gram (US$25.62) from 202 yuan and high purity platinum jewelry in the city will also be reduced to 389 yuan a gram from 399 yuan, the Shanghai Gold & Jewelry Trade Association, which sets base prices for gold and platinum, said. Gold prices at big-name jewelers are 202 yuan a gram and platinum at 400 yuan a gram as the association allows a three percent fluctuation.
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