Sou Hu Cai Jing·2025-10-31 07:11Group 1 - The core point of the article discusses the dramatic fluctuations in gold prices, highlighting the recent surge and subsequent drop, raising questions about the wisdom of investing in gold at this time [1][4][11] - International gold prices have seen a remarkable increase of 26% in 2024, with London gold and COMEX gold futures both exceeding 27% growth, marking the largest annual increase since 2010 [4][6] - The price of gold jewelry at Chow Tai Fook has risen significantly, with prices reaching 932 yuan per gram, and further increases of 10% to 20% expected in April 2025 [5][6] Group 2 - The surge in gold prices is attributed to two main factors: central banks globally accumulating gold and an influx of safe-haven investments due to economic uncertainties [6][7] - In 2024, the People's Bank of China increased its gold reserves by 44.17 tons, reaching a historical high of 2279.57 tons, while global central bank gold reserves accounted for 20% of total reserves [6][7] - The demand for gold ETFs in China increased by 53.27 tons in 2024, reflecting a growing preference for investment-grade gold over jewelry, which saw a 24.69% decline in sales [9][10]