From Yahoo Finance: 2025-05-01 14:00:00

Chinese gold buying frenzy last week drove spot prices to $3500, but China quickly sold off its holdings ahead of Labor Day holiday, causing total onshore positioning to drop 5% from all-time high. China’s impact on gold prices is significant due to executing trades during illiquid Asia morning hours. Gold prices now at 2-week low.

Read more: Gold Prices Sink as China Dumps Stockpiles