Jewellery: Gold Price Plunge Triggers Rare Discounts as Laopu Gold Hit with Target Cuts to HK$400 by Two Major Banks

Laopu Gold shares closed down 7.48% at HK$311.80 in Hong Kong after the premium jeweller broke its long-standing no-discount discipline with its first public price cuts during the National Day holiday. Citi cut its target price from HK$507 to HK$400 and lowered its 2027 profit forecast by 22%, while Haitong International trimmed its target to HK$435, with both banks pointing to volatile gold prices cooling consumer demand after the metal's retreat from its early-year peak.

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