今日金价！11月18日调整后，全国珠宝店，黄金最新售价

Core Viewpoint - The divergence between international and domestic gold prices continues, with international gold prices experiencing significant volatility while domestic prices remain relatively stable [2][5][9]. Group 1: International Gold Price Trends - On November 18, 2025, the international gold price was $4045.50 per ounce, down $39.30 or 0.96% from the previous trading day, with intraday fluctuations exceeding $100 [2]. - The international gold price has shown high volatility, with a notable drop of 6.3% on October 21, 2025, marking the largest single-day decline since April 2013 [5][7]. - Recent fluctuations in international gold prices are primarily driven by changes in U.S. Federal Reserve monetary policy expectations, with a significant drop in the probability of a rate cut in December [7]. Group 2: Domestic Gold Price Stability - In contrast to international trends, domestic gold prices showed minimal change, with a slight decrease of 0.18 yuan or 0.02% on the same day [2]. - Major retail brands in the domestic market, such as Chow Tai Fook and Luk Fook, maintain stable pricing, with gold jewelry prices significantly higher than the converted international prices by 300-350 yuan per gram [2][4]. - The domestic gold market exhibits a price hierarchy, with brand retail prices at the top, followed by bank investment gold bars, and lower prices for gold recycling [4][5]. Group 3: Market Dynamics and Consumer Behavior - The domestic gold market is supported by strong physical demand, with gold bar and coin consumption increasing by 24.55% year-on-year in the first three quarters of 2025, despite a decline in gold jewelry consumption [9][10]. - The shift in consumer behavior towards smaller, higher-value gold products is evident, with products weighing 10 grams or less accounting for 45% of sales in the first half of 2025 [9][12]. - The recent tax policy adjustments affecting gold transactions have also influenced market dynamics, with increased costs for non-investment gold purchases [10].