Mei Ri Jing Ji Xin Wen·2025-10-07 14:16Core Viewpoint - Gold prices have surged significantly, with spot gold reaching a historic high of $3980 per ounce and New York gold futures surpassing $4000, both up over 50% year-to-date [1][4]. Group 1: Gold Price Trends - Domestic gold jewelry prices are also hitting record highs, with mainstream brands seeing prices for 24K gold jewelry exceeding 1100 yuan per gram, including brands like Chow Tai Fook at 1155 yuan and Chow Sang Sang at 1157 yuan [3][4]. - The increase in gold prices has not dampened consumer enthusiasm; instead, it has led to a surge in demand, particularly during the recent holiday period [6][7]. Group 2: Consumer Behavior - Many consumers are purchasing gold jewelry despite high prices, with some spending as much as 160,000 yuan on gold items, indicating strong buying power [6][7]. - Retailers are experiencing increased foot traffic, with some stores reporting a doubling of customer visits during the holiday season compared to previous months [7][8]. Group 3: Market Analysis - Analysts attribute the rapid rise in gold prices to geopolitical tensions, fluctuating Federal Reserve policies, and a looming U.S. government shutdown, which have all heightened demand for gold as a safe-haven asset [7][9]. - Goldman Sachs has raised its gold price forecast for December 2026 to $4900 per ounce, up from a previous estimate of $4300, anticipating continued strong demand from central banks and individual investors [8][9].