The main gold futures contract on the Shanghai Futures Exchange surpassed 648 RMB ($88.75) per gram during trading, closing at 645.46 RMB ($88.26), setting a new historical record last week. Meanwhile, the spot price of AU99.99 gold on the Shanghai Gold Exchange closed at 643.48 RMB ($87.94) per gram, surpassing the previous high of 636.75 RMB ($87.06) on October 30, 2024. In the retail market, gold jewelry stores like Chow Tai Fook are offering 24K gold jewelry at 833 RMB ($114.78) per gram, also setting a new record and indicating the continued rise in gold consumption.