Mei Ri Jing Ji Xin Wen·2025-10-07 14:11Core Insights - Gold prices have surged significantly, with spot gold reaching a historic high of $3980 per ounce and New York futures surpassing $4000, both up over 50% year-to-date [1] - Domestic gold jewelry prices are also hitting record levels, with major brands like Chow Tai Fook and Chow Sang Sang seeing prices exceed 1150 RMB per gram [3] Group 1: Market Trends - The increase in gold prices has not dampened consumer enthusiasm; instead, it has led to a surge in demand for gold jewelry during the recent holiday period [6][7] - Major gold retailers are experiencing high foot traffic, with some stores reporting a doubling of customer numbers compared to previous months [7] - Consumers are making substantial purchases, with some spending as much as 160,000 RMB on gold jewelry, indicating strong buying power [6] Group 2: Investment Sentiment - Analysts attribute the rapid rise in gold prices to heightened geopolitical tensions, fluctuating Federal Reserve policies, and concerns over a potential U.S. government shutdown, which have all contributed to increased demand for gold as a safe-haven asset [8][9] - Goldman Sachs has raised its gold price forecast for December 2026 to $4900 per ounce, reflecting a shift in buying patterns towards more stable, long-term investors such as central banks and individual buyers [8] - Deutsche Bank highlights that gold is viewed as a safe haven amid stock market optimism and significant downside risks, reinforcing its appeal to investors [9]