In a significant move impacting the global bullion market, China has ended tax rebates for gold sales, causing prices to drop below $4,000 per ounce. This decision has raised costs for consumers and retailers alike, with analysts predicting a potential increase in procurement costs by up to 7%. The change is expected to particularly affect Chinese jewelers, who may struggle under the new rules. As gold prices fell sharply, analysts warned of market repercussions and a likely impact on Indian gold buyers as well. Despite the short-term price correction, some expect medium- to long-term demand for gold to remain stable, though immediate reactions have led to notable declines in Chinese gold stocks and a turbulent market atmosphere.