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黄金火爆“带旺”铂金?记者实探
证券时报·2025-06-03 08:01

Core Viewpoint - Recent fluctuations in gold and platinum prices have been driven by factors such as a weakening dollar, geopolitical risks, and economic uncertainty, leading to increased demand for safe-haven assets [1][4]. Gold Market - On June 2, international gold prices reached a three-week high, with COMEX gold futures for August delivery rising by 2.7% to $3404.70 per ounce [1]. - The gold jewelry sector in both A-shares and H-shares has shown active performance recently [1]. - Year-to-date, international gold prices have increased by approximately 25% [6]. Platinum Market - Platinum prices have seen a significant rise since late May, with futures surpassing $1100 per ounce, marking a nearly one-year high [1]. - Despite recent price increases, retail demand for platinum remains low, with fewer customers in platinum jewelry stores compared to gold [3][4]. - The World Platinum Investment Council reported a 10% year-on-year decline in global platinum supply in Q1, totaling 45.3 tons, while demand increased by 10% to 70.7 tons, indicating a potential shortfall of 30 tons for the third consecutive year [4][5]. Consumer Behavior - Consumers show a preference for gold due to its investment value, while some still appreciate platinum for its aesthetic qualities [4][5]. - Discussions around platinum have increased on social media, with some consumers considering switching from gold to platinum as gold prices reach historical highs [4]. - Retailers are beginning to stockpile platinum in anticipation of price changes, reflecting a shift in market sentiment [4]. Future Projections - JPMorgan forecasts that the average price of platinum will rise to $1200 per ounce by Q4 2025 and $1300 per ounce by Q2 2026 [6]. - Citibank predicts that gold prices could reach a target of $3500 per ounce within the next three months, up from a previous target of $3300 [6].