Core Viewpoint - The domestic gold price has historically surpassed 1000 RMB per gram for the first time, driven by rising international gold prices [1][3][11]. Gold Price Movement - On October 17, 2023, the Shanghai Gold Exchange reported that the price of Au99.99 gold reached a peak of over 1000 RMB per gram, marking a historical milestone [3]. - The Shanghai Futures Exchange also saw its main gold futures contract exceed 1000 RMB per gram for the first time [3]. - In Shenzhen's Shui Bei market, gold prices have risen from approximately 796 RMB per gram in early September to over 1000 RMB per gram [3]. Retail Price Adjustments - Major jewelry brands are expected to increase their retail prices for gold jewelry, with some price hikes reaching up to 30% [11]. - As of October 17, 2025, the selling price for gold jewelry from brands like Chow Sang Sang and Chow Tai Fook reached 1281 RMB and 1279 RMB per gram, respectively [4][7]. Consumer Behavior - Consumers are becoming more cautious, with many opting to observe the market rather than make purchases [12]. - The demand for gold jewelry has seen a decrease in sales volume since gold prices surpassed 900 RMB per gram, although the wedding season has somewhat mitigated this impact [12]. - There has been a notable increase in the volume of gold being recycled into jewelry, with some businesses reporting a doubling of gold recovery compared to previous periods [12]. Industry Impact - Gold mining companies are expected to benefit significantly from the rising gold prices, with companies like Shandong Gold forecasting a substantial increase in net profit for the first three quarters of 2025, projecting a profit of 3.8 to 4.1 billion RMB, an increase of 83.9% to 98.5% year-on-year [14]. - The company attributes this growth to optimized production layouts and enhanced operational efficiency, alongside the favorable gold price environment [14]. - The World Gold Council has noted that while there are concerns about gold being in an overbought state, overall gold holdings remain low compared to historical highs [15].
见证历史!双双突破1000元大关!记者实探深圳水贝
Zheng Quan Shi Bao·2025-10-17 07:17