国际金价为何持续上涨？

Group 1 - The price of gold in RMB has surged from approximately 975 RMB per gram to nearly 1250 RMB per gram, with major gold shops quoting 24K gold jewelry above 1700 RMB per gram. International gold prices have risen from around 4310 USD per ounce to nearly 5600 USD per ounce, breaking through multiple key levels, attracting market attention [1] - The World Gold Council attributes the fluctuations in gold prices to a "four-factor driving theory": economic growth leading to increased physical gold consumption, the opportunity cost of holding gold as a non-yielding asset, rising market risks triggering safe-haven demand, and trend momentum reinforcing price movements [1] - Current geopolitical risks and the historical high levels of the US stock market are significant factors pushing gold prices higher, according to precious metals investment experts [1] Group 2 - Some industry experts believe that the rapid rise in gold prices has exceeded fundamental support, with central bank purchases and investor demand contributing to price increases, but the extent of the rise cannot be solely explained by these fundamentals [2] - The core factor driving gold price movements is the heightened market uncertainty due to escalating geopolitical tensions, which has significantly stimulated safe-haven demand for gold [2] - The World Gold Council reports that international gold prices set historical highs 40 times in 2024 and 53 times in 2025, indicating strong market support [2] Group 3 - Despite the rapid increase in gold prices, experts caution against the potential for a sharp decline following such a surge, as gold has historically been a highly volatile asset with investment risks [3] - Historical trends show that the gold market has experienced multiple rapid increases followed by downturns, including a prolonged period of consolidation lasting around 20 years since the 1980s [3]