实探水贝黄金市场：税收新政引发跳涨，买卖价差扩至超百元

Core Viewpoint - The recent adjustment in gold tax policy has led to significant price discrepancies in the gold jewelry market, causing confusion and a cautious approach among merchants and consumers [1][2]. Group 1: Market Reaction - Following the tax policy change on November 1, the gold price gap between purchase and recovery has widened from over 20 yuan to more than 100 yuan per gram within a few days [1][2]. - On November 6, the market price for gold jewelry fluctuated, with a reported price of approximately 989 yuan per gram, which later increased to 993 yuan per gram, including about 70 yuan per gram in tax [2][4]. - The main recovery price remained around 898 yuan per gram, indicating a significant increase in the buy-sell price difference compared to just 27 yuan per gram six months prior [2]. Group 2: Impact on Consumer Behavior - The new tax policy has led to a decrease in actual transactions, with many consumers opting to wait and observe the market rather than making purchases, except for those with urgent needs [4][6]. - The demand for "one-price" gold products, which have smaller price adjustments and appeal to younger consumers, has increased, becoming a popular choice in the gift market [4][8]. Group 3: Tax Policy Implications - The tax policy changes have resulted in increased costs for non-member jewelry brands, as their input tax deduction rates have decreased from 13% to 6%, leading to higher VAT payments and potential profit pressure [6][8]. - The gold price increase is primarily attributed to the heightened tax burden on upstream suppliers, which has raised raw material costs for jewelers [7][8]. Group 4: Industry Outlook - Analysts predict that non-member jewelry companies will face increased profit pressures in the short term, while member companies may be less affected [8]. - The long-term outlook suggests that the industry will see increased concentration, with brands that possess pricing power demonstrating greater resilience in performance [8].