黄金再创新高，惊呆了炒股的人

Core Viewpoint - Gold has reached a historic high, surpassing $4,520 per ounce, with a year-to-date increase of 71%, significantly outperforming other assets. This surge is attributed to collective central bank purchases, institutional strategies, and increased retail investor interest, marking gold as a core asset rather than just a safe haven [1][3]. Price Trends - In 2025, gold prices experienced a remarkable bull market, starting below $2,600 per ounce and reaching a peak of $4,525 per ounce by December 24, marking the 50th record-breaking day of the year [3][4]. - Domestic gold prices have also surged, with major brands quoting prices above 1,410 RMB per gram, leading to high-end products costing nearly 76,000 RMB, which has deterred some average consumers [4]. Investment Demand - The World Gold Council reported a 3% year-on-year increase in global gold demand in Q3 2025, reaching 1,313 tons, with investment demand being the primary driver, particularly for gold bars and coins, which saw a 17% increase [6][10]. - The demand for gold ETFs surged by 134% year-on-year, indicating a shift in consumer behavior from gold as a mere ornament to a serious investment [6][10]. Investor Sentiment - Many investors are experiencing significant gains, with some reporting that their investments have doubled in value. For instance, an investor who purchased gold bars at 500 RMB per gram now sees their investment worth over 200,000 RMB [7]. - Discussions among investors reflect a mix of excitement and caution, with some contemplating whether to sell or hold their positions as prices continue to rise [8]. Central Bank Influence - Central banks have played a crucial role in driving gold prices higher, with global net purchases totaling 220 tons in Q3 2025, a 28% increase from the previous quarter [11]. - Analysts predict that the strong demand from central banks will continue to support gold prices, with some forecasting prices could reach $6,000 per ounce by the end of 2026 [11]. Investment Strategies - Experts suggest that gold should be viewed as a stabilizing asset in a portfolio rather than a speculative tool. Recommendations include using dollar-cost averaging for purchases and maintaining a diversified investment strategy [9][12]. - Different types of gold investments are available, including physical gold, gold ETFs, and futures, each serving different investment needs and risk profiles [7][9].