Sou Hu Cai Jing·2025-07-23 02:45Group 1: Gold Price Movement - International gold prices have significantly increased, surpassing $3,400 per ounce, reaching a five-week high, with a closing price of $3,406.4 per ounce on July 21, reflecting a rise of 1.43% [1] - COMEX gold futures rose by 1.6%, reaching $3,412 per ounce, while spot silver also saw a 2% increase, priced at $38.939 per ounce [1] - As of July 22, London spot gold surged to $3,416.65 per ounce, with spot silver hitting a new high since July 14 [1] Group 2: Domestic Gold Price Trends - Since opening at $2,623 per ounce this year, spot gold has risen, peaking at $3,499.45 per ounce on April 22, marking a maximum increase of over 30% before entering a phase of high-level fluctuations [3] - Domestic gold prices have also rebounded, with most gold jewelry prices in local stores returning to the thousand yuan mark [3] Group 3: Gold Companies' Performance - Gold companies have reported strong performance in the first half of 2025, benefiting from a 28% increase in international gold futures prices compared to the beginning of the year [5] - Western Gold expects a net profit attributable to shareholders of 130 million to 160 million yuan, a year-on-year increase of 96.35% to 141.66% [5] - Shandong Gold anticipates a net profit of 2.55 billion to 3.05 billion yuan, reflecting a year-on-year increase of 84.3% to 120.5% [5] - China National Gold forecasts a net profit of 2.614 billion to 2.875 billion yuan, an increase of 50% to 65% year-on-year [5] - Hunan Gold expects a net profit of 613 million to 701 million yuan, a year-on-year increase of 40% to 60% [5] - Chifeng Gold anticipates a net profit of 1.08 billion to 1.13 billion yuan, reflecting a year-on-year increase of 52.01% to 59.04% [6] Group 4: Central Bank Gold Purchases - The People's Bank of China reported that as of June 2025, the country's gold reserves reached 73.9 million ounces (approximately 2,298.55 tons), marking a net increase for the eighth consecutive month [7] - In 2024, global central banks purchased a net total of 1,136 tons of gold, the second-highest on record, with China, Poland, and Turkey being the top three buyers, accounting for over 50% of purchases [7] - A survey indicated that 95% of central banks plan to continue increasing their gold holdings in the next 12 months, the highest percentage since 2019 [7] Group 5: Reasons for Central Bank Gold Accumulation - Central banks are increasing gold holdings to optimize foreign exchange reserve structures, as gold serves as a non-sovereign credit reserve asset, unaffected by unilateral sanctions [8] - The People's Bank of China's gold purchases align with the internationalization of the renminbi, providing tangible asset support for the currency's role in the global monetary system [8]