Group 1 - Gold stocks continue to rise, with notable increases in shares of companies such as珠峰黄金 (5.94% increase), 招金矿业 (4.68% increase), 赤峰黄金 (3.81% increase), and 山东黄金 (3.66% increase) [1] - As of the end of October, the central bank's gold reserves reached 74.09 million ounces, an increase of 30,000 ounces from the end of September, marking the 12th consecutive month of accumulation [1] - UBS reported that central bank gold purchases totaled 634 tons by the end of the third quarter, slightly lower than the same period last year, but showing signs of recovery in the fourth quarter, aligning with their forecast of 900 to 950 tons for the entire year of 2025 [1] Group 2 - According to 中金公司, gold is expected to maintain its upward trend next year, with structural and cyclical opportunities likely to resonate [1] - The trend of de-globalization and strategic security demands may continue to support the accumulation of gold reserves by central banks in emerging markets, with higher requirements for physical gold inventory construction in regional markets by 2025 [1] - Economic growth pressures in the U.S. may persist into the first half of next year, with the Federal Reserve having restarted interest rate cuts in September and potentially ending balance sheet reduction by year-end, suggesting a continuation of the liquidity easing cycle [1]
黄金股继续上涨 中国央行连续第12个月增持黄金 机构称明年黄金有望延续涨势