10月再创新高，买还是不买？

Core Viewpoint - The international gold market has reached a significant milestone with spot gold prices surpassing $4250 per ounce, driven by strong demand for both gold jewelry and investment products, indicating a robust interest in gold as a safe-haven asset amid global economic uncertainties [1][2][3]. Group 1: Gold Price Trends - As of October 16, spot gold prices hit a high of $4259.1 per ounce, while domestic Shanghai gold futures reached 971.58 yuan per gram, marking a nearly 60% increase from 610 yuan per gram at the beginning of the year [1]. - Major gold jewelry brands have seen prices rise to between 1245 and 1248 yuan per gram, an increase of approximately 60 yuan per gram compared to three days prior [1]. Group 2: Consumer Behavior - There is a notable increase in young consumers purchasing gold jewelry, favoring lighter and more stylish designs, with a significant demand for pure gold jewelry over gold bars [1][2]. - The demand for gold bars remains strong, with a reported 23.69% year-on-year increase in gold bar and coin consumption in China, totaling 264.242 tons in the first half of the year [2]. Group 3: Investment Products - The popularity of gold investment products is rising, with over a million users accessing "accumulated gold" products on Alipay, indicating a shift towards flexible gold investment options [2]. - Several banks have raised the minimum purchase amounts for gold accumulation products, reflecting increased interest and demand in the market [2]. Group 4: Market Dynamics - Analysts suggest that the current rise in gold prices is driven by various risk-averse sentiments, supported by central banks' increased gold purchases and a weakening dollar [3][4]. - The World Gold Council reports that 73% of surveyed central banks expect a decline in the dollar's share in global reserves over the next five years, with an anticipated increase in gold, euro, and renminbi holdings [3].