Zheng Quan Shi Bao·2025-11-20 18:27Group 1 - The Shanghai Gold Exchange has issued a notice urging member units to enhance market risk control due to increasing volatility in international gold prices, with gold jewelry prices in China surpassing 1300 RMB per gram [1] - As of November 19, the international spot gold price briefly exceeded 4100 USD per ounce, with a year-to-date increase of over 55%, making gold one of the best-performing asset classes this year [1] - Major Chinese gold jewelry brands have reported prices for 24K gold jewelry exceeding 1300 RMB per gram, with specific brands like Chow Sang Sang and Chow Tai Fook pricing at 1307 RMB and 1305 RMB per gram respectively [1] Group 2 - Global central banks have shown increased enthusiasm for gold purchases, with a net purchase of 220 tons in Q3 2025, a 28% increase from Q2 and a 10% year-on-year rise [2] - As of the end of October, China's gold reserves reached approximately 2304.457 tons, marking a continuous increase for 12 months, although the recent increment was slightly lower than previous months [2] - Morgan Stanley suggests that many central banks, especially in emerging markets, will continue to increase their gold holdings despite potential reductions in buying intensity due to rising prices [3]