These market jitters have spread to China, with gold prices falling below 300 yuan per gram. During Tuesday morning trade, gold plummeted by the daily limit on the Shanghai Futures Exchange and gold-related stocks also fell. Still, some investors are seeing this as an opportunity to pick up some bargains.
A fresh two-year low.
In China, prices of gold bullion dipped to 290 yuan per gram.
With the downward trend still ongoing, gold stores are crowded with consumers.
Some are anxious to get out of the market immediately - even if it means hefty losses.
Gold Investor, Shanghai, said, "I bought gold bullion last December at a price of more than 330 yuan per gram. But I have to sell them now. Otherwise, I may have to suffer more losses."
But others see this bearishness as an opportunity for bargain-hunting.
Shanghai Resident said, "I only bought a small amount of gold bullion. I am still optimistic about the long term prospect of gold, it is a safe-haven investment."
Whether it’s buying or selling - gold-related businesses are seeing an influx of customers.
Chen Tao, Store Manager, China Gold Group, said, "Sales have already bit seven million yuan. It could break 10 million yuan today."
Industry insiders say due to a steady recovery of global financial markets and the strengthening of the US dollar, gold’s bull run may have come to an end.