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The most popular gold among the Chinese experienced significant fluctuation in April, with the gold price surging to $3,400 last month, before dropping all the way down to $3,211. According to Economictimes, the fall in gold prices may be influenced by the easing of global trade tensions, coupled with the fact that China is currently in the May Day holiday, leading to a market closure. This has resulted in a short-term liquidity vacuum as the world's largest gold-holding country is selling more than it is buying.