黄金投资需求大幅上升，但珠宝消耗降至2020年以来的最低规模

Group 1 - International precious metal futures have generally risen, with COMEX gold futures up 0.94% at $4038.30 per ounce and COMEX silver futures up 1.71% at $48.73 per ounce [1] - Year-to-date, spot gold prices have increased by 50%, reaching a historical high of $4381 per ounce on October 20, driven by geopolitical tensions, uncertainty over U.S. tariffs, and a recent surge in buying reflecting safe-haven demand [1] - The World Gold Council reported a 3% year-on-year increase in global gold demand in Q3, reaching a record 1313 tons, with a significant rise in investment demand [1] Group 2 - Central banks, another major source of gold demand, increased their purchases by 10% in Q3, totaling 219.9 tons, which, while lower than the exceptionally high levels of the past three years, is significantly above pre-2022 levels [4] - The World Gold Council expects total annual purchases to range between 750 to 900 tons [4] - Rising gold prices have led to a decrease in jewelry consumption in Q3 to the lowest level since 2020, prompting the Council to lower its annual forecast; however, consumer spending on jewelry increased by 13% year-on-year, reaching $410 billion [4] Group 3 - In Q3, total global gold demand reached $146 billion, setting a record for the highest quarterly amount, with total investment demand at 537 tons, a 47% year-on-year increase [4] - Central banks' net gold purchases totaled 220 tons in Q3, reflecting a 28% quarter-on-quarter increase [4] - Global gold supply in Q3 reached 1313 tons, marking a quarterly record and a 3% year-on-year increase [4] Group 4 - The Hong Kong government has invited the Shanghai Gold Exchange to participate in establishing a central clearing system for gold, accelerating the development of an international gold trading center [4] - The next goal for Hong Kong is to surpass 2000 tons in gold reserves within three years, aiming to build a regional gold reserve hub and diversify gold investment tools [4]