China's Gold and Copper Markets Face Pressure Amid Price Changes, Stockpile Surge, and Trading Volume Decrease

China's gold investment market is active, but gold jewelry retail sales are under pressure due to high prices. Copper stockpiles surge, raising concerns about demand. Gold dropped 3% as China curtailed purchases, while copper fell almost 5%, indicating gold's upper hand. Base metals prices, including copper, corrected due to a strong dollar and lackluster demand in China. Precious metals futures in China opened down after a holiday, with silver and gold prices falling. Bonded copper futures in Shanghai decline to the weakest level since April. Copper prices are expected to remain under pressure due to weak Chinese equities, a strong dollar, and cautious sentiment ahead of key Fed decisions. China's gold ETF gaps lower by 3%. Major steel prices in China remain weak due to lackluster demand. Precious and base metals prices retreated as traders turned cautious ahead of the FOMC meeting. China is stockpiling copper at a high rate, leading to copper prices hitting a seven-week low.