金饰克价跌破1400元，2026年黄金牛市能否延续

Group 1 - Domestic gold jewelry prices have significantly adjusted downwards, with major brands reporting the following prices: Lao Feng Xiang at 1363 CNY/g, Lao Miao Gold at 1359 CNY/g, Chow Sang Sang at 1353 CNY/g, and Chow Tai Fook at 1363 CNY/g, while Liufu Jewelry remains at 1403 CNY/g [1][2] - The price changes reflect a decrease, with Chow Tai Fook dropping by 42 CNY, Chow Sang Sang by 53 CNY, Lao Feng Xiang by 45 CNY, and Lao Miao Gold by 44 CNY [2] Group 2 - The outlook for the gold market in 2026 is supported by expectations of interest rate cuts by the Federal Reserve, with a likelihood of 2 to 3 cuts anticipated for the year [3] - Global central bank gold purchases are expanding beyond geopolitical nations, contributing to a shift in the global foreign exchange reserve composition, where the share of dollar assets has decreased from 72% to 56%, while gold reserves have increased to 25% [3] - Despite high gold prices, investor demand remains strong, with gold investment demand in the first three quarters of 2025 reaching 551.5 tons, 477.5 tons, and 537.2 tons, significantly higher than the same period in 2024 [3] Group 3 - Potential negative factors for gold in 2026 include easing inflation pressures in the U.S., which historically has led to declines in gold prices during periods of high inflation retreat [4] - Historical instances of central banks selling gold during liquidity pressures, such as in 1997 during the Asian financial crisis, could also pose risks to gold prices [4] - A significant easing of international geopolitical tensions may negatively impact gold demand and prices [4]