双双涨破纪录！仍断货、下架！深圳水贝商家：不敢留过夜

Core Viewpoint - On October 17, 2025, domestic gold spot and futures prices in China broke the 1000 yuan per gram mark for the first time in history, indicating a significant milestone in the gold market [1][2]. Group 1: Market Performance - The Shanghai Gold Exchange's Au99.99 gold price reached a historic high, surpassing 1000 yuan per gram [2]. - The main gold futures contract on the Shanghai Futures Exchange also broke the 1000 yuan per gram barrier for the first time [2]. - In Shenzhen's Shui Bei market, gold prices exceeded 1000 yuan per gram, up from approximately 796 yuan per gram in early September [2]. Group 2: Retail Price Impact - As gold prices rise, retail prices for gold jewelry are also increasing, with some brands planning price hikes of up to 30% [13]. - The selling price for gold jewelry from major brands like Chow Sang Sang and Chow Tai Fook reached 1281 yuan and 1279 yuan per gram, respectively [4][7]. Group 3: Consumer Behavior - Consumers are becoming more cautious, with many adopting a wait-and-see approach due to high gold prices [14]. - Sales volumes have started to decline since gold prices surpassed 900 yuan per gram, although the impact is mitigated by the wedding season [14]. - The volume of gold being recycled for making jewelry has doubled as consumers convert their gold bars into ornaments due to high prices [14]. Group 4: Market Sentiment and Future Outlook - A recent survey indicated that 43% of investors view "going long on gold" as the most crowded trade, surpassing other investment options [19]. - Despite this crowded trade sentiment, many fund managers maintain low gold positions, suggesting potential for further price increases [19]. - Factors driving the influx of capital into gold include dovish signals from the Federal Reserve, geopolitical risks, and a self-reinforcing cycle of rising prices attracting more buyers [21].