黄金突发！紧急风险提示来了

Core Viewpoint - The recent surge in gold prices has prompted the Shanghai Gold Exchange to issue multiple risk warnings, highlighting the need for market participants to enhance risk awareness and control positions rationally [1][2]. Group 1: Market Dynamics - Gold prices have been volatile, with international gold prices reaching over $3,400 per ounce and COMEX gold futures hitting historical highs [2][4]. - The U.S. government has imposed tariffs on imported gold bars, which could disrupt the global gold market and increase costs for Swiss exports to the U.S. by approximately $24 billion due to a 39% tariff rate [2]. - The White House plans to clarify the situation regarding the gold tariffs to mitigate market confusion and concerns [2][4]. Group 2: Demand and Supply Trends - The World Gold Council reported that global gold demand reached 1,249 tons in Q2, a 3% year-on-year increase, driven by strong investment inflows amid geopolitical uncertainties [11]. - Despite high gold prices, global gold jewelry demand fell by 14% year-on-year, with significant declines in China and India, where demand dropped by 20% and 17%, respectively [11][12]. - The value of global gold jewelry consumption increased to $36 billion in Q2, indicating a shift in consumer behavior towards lighter-weight products to cope with rising prices [11][12]. Group 3: Price Trends in Jewelry - Domestic gold jewelry prices remain high, with major retailers like Chow Sang Sang and Chow Tai Fook pricing their gold jewelry around 1,015 to 1,017 RMB per gram [7][11].