金价连涨，黄金周看“淘金热”

Core Viewpoint - The National Day holiday has historically been a peak shopping period in China, and this year coincides with record-high gold prices, further fueling the demand for precious metals [1] Group 1: Gold Price Trends - The uncertainty caused by the U.S. government shutdown has heightened investors' risk aversion, leading to a continuous rise in international gold prices, which reached $3,885.66 per ounce on October 3, marking a year-to-date increase of approximately 48% [2] - Domestic gold jewelry prices have also surged, with brands like Chow Sang Sang and Chow Tai Fook reporting increases in gold prices per gram, reflecting the rising international gold prices [2][3] Group 2: Consumer Behavior - Many consumers believe that gold prices will continue to rise, leading to a "buy high, not low" mentality, which has kept the demand for gold jewelry strong during the holiday [2] - Young consumers are increasingly focused on design and affordability, opting for lighter gold items that meet their decorative needs without imposing significant financial pressure [2][3] - Some consumers are prioritizing "fixed-price" gold items, which are expected to increase in price by up to 30% starting in October, indicating a shift in purchasing behavior towards perceived value and design [3] Group 3: Market Dynamics - The rising gold prices have not significantly shifted demand towards platinum and silver, as consumers still prefer gold for its perceived investment value and design variety [5][6] - Although there is some interest in silver as a more affordable alternative, the overall demand remains limited compared to gold, which continues to dominate the wedding jewelry market [6]