金价继续创新高，上金所、上期所紧急提醒

Group 1 - International gold prices have reached a historic high, surpassing $4250 per ounce, with a year-to-date increase of over 60%, while silver prices have risen more than 83% this year [1][3] - Domestic gold prices in China also rose, closing at 967.29 yuan per gram, reflecting a 1.79% increase, while silver prices exceeded 12000 yuan per kilogram [1][3] - The trading activity in both the physical and futures markets for gold and silver has intensified, indicating a growing interest among investors [1][3] Group 2 - The Shanghai Gold Exchange and the Shanghai Futures Exchange have issued warnings regarding market volatility and advised investors to manage risks and invest rationally [3] - In September, trading volume for precious metals futures surged, with gold futures volume increasing by 64.61% year-on-year and 78.49% month-on-month, while silver futures saw a 125.59% month-on-month increase despite a year-on-year decline [5] - The total scale of gold-themed ETFs in the domestic stock market has surpassed 200 billion yuan, with net inflows exceeding 80 billion yuan this year [5] Group 3 - The SPDR Gold Trust, the world's largest gold ETF, has seen its holdings increase by 40 tons since the beginning of 2025, although it remains significantly below its historical peak of 1352.65 tons [5][6] - The iShares Silver Trust reported a holding of 15422.61 tons as of mid-October, up nearly 1000 tons from the beginning of the year, but still below its peak of 21067.85 tons in February 2021 [6] Group 4 - Expectations of a new round of interest rate cuts by the Federal Reserve could drive further increases in gold prices, with predictions of a potential rise to $4500 or even $4800 per ounce by early 2026 [8] - Analysts suggest that if the U.S. government reopens after a shutdown, there may be a short-term pullback in gold prices, but the overall trend remains bullish for those holding positions for more than three months [8]