美政府关门时长将破纪录！金价徘徊于4000美元，中国黄金税改影响几何？

Group 1: Market Overview - The U.S. stock indices showed mixed performance, with gold hovering around $4000 and the euro hitting a three-month low [1] - AI investments remain a focal point, highlighted by OpenAI's $38 billion partnership with Amazon, which led to Amazon's stock reaching an all-time high [1] - The U.S. ISM manufacturing PMI has been in contraction for eight consecutive months, indicating persistent weakness in new orders and exports [1] Group 2: Currency and Economic Indicators - The euro has declined for four consecutive days, closing at 1.1520, marking its lowest point since August [2] - The British pound has broken below the critical support level of 1.3150, suggesting potential further declines [2] - The U.S. government shutdown has reached 34 days, potentially breaking the record for the longest shutdown [2] Group 3: Gold Market Dynamics - Gold prices are struggling to break through the key resistance area of $4020/30, with short-term targets remaining at $4000 [3] - The macroeconomic environment is stabilizing, leading to a narrow trading range for gold prices, while the rebound of the dollar is exerting downward pressure on gold [3] Group 4: Impact of Tax Reforms on Jewelry Industry - China's new gold tax policy, effective November 1, 2025, marks a shift towards more refined regulation in the gold market, ending the era of rapid growth [4] - The new tax policy significantly increases the tax burden on different types of gold products, with investment-grade gold facing the highest cost increases [4] - Analysts predict that major jewelry companies like Lao Miao Gold, Chow Tai Fook, and Luk Fook Jewelry may see net profit declines of 15%, 26%, and 6% respectively in the 2026 fiscal year due to these tax changes [4]