2026年1月26日，国际金价飙升至4986.5美元/盎司，国内基础金价报1124元/克，品牌足金零售价已突破1550元/克大关，市场消费逻辑发生显著转变：传统 按克计价模式因高昂单价面临挑战，强调工艺与文化属性的"一口价"黄金饰品反而逆势走俏。 一、金价与品牌零售行情 高纯度的足金999.9及古法金、5G黄金等工艺金报价在1275元/克左右，K金与铂金价格亦相对低廉，对于追求性价比的消费者而言，水贝模式剔除了高昂的 品牌运营成本，也设立了批发门槛，主要通过特定的商业综合体面向零售散客开放。 在金融衍生品端，国内黄金期货市场呈现出贴水或微幅波动的态势。沪金主力合约（如Au2606、Au2608等）价格集中在1036元至1047元/克区间，普遍低于 现货基础金价。这种期现价格倒挂或微幅折价的现象，可能暗示市场对未来远期金价的持续单边上涨持谨慎态度，也为专业投资者提供了套期保值的操作空 间。 三、黄金投资渠道的成本分析 针对以资产配置为目的的投资者，银行金条因溢价较低而成为优选，各大商业银行的投资金条价格主要在1120元至1153元/克之间浮动，平安银行、兴业银 行及中信银行报价较低，约在1120元至1123元/ ...

2026年1月25日，国内金价出现回落迹象：上金所Au9999报1114元/克、沪金期货1121元/克、中国黄金基础价1107元/克均偏弱运行；银行金条约1132元/克跟 随下跌，金饰克价维持1271—1548元区间，周大福/六福/老凤祥1553元/克、周生生1551元/克。 一、品牌金价与铂金报价 从零售端看，多数品牌足金报价仍集中在1551—1553元/克：周大福、谢瑞麟、老凤祥、老庙、周大生、潮宏基等为1553元/克，周生生与六福分别在1551— 1553元/克附近；水贝报价相对低，黄金约1274元/克，菜百约1498元/克，中国黄金高位约1562元/克。 铂金方面品牌差异更明显：水贝约667元/克，菜百与中国黄金约800元/克，老凤祥与老庙约950元/克，部分品牌铂金报价可到1102—1148元/克。 零售端对下跌并不敏感，原因在于工费、渠道与品牌溢价具有黏性，当原料端走弱时，金饰往往先"挺价"，随后才通过活动、工费调整或调价来消化回落。 二、黄金基准价偏弱 交易端与基准端显示出"弱中有弹"的特征：Au9999报1114元/克，期货约1121元/克，基础金价约1107元/克，与前期高位相比回落更明显， ...

黄金的"狂飙"还在持续。 1月26日，伦敦现货黄金再创下历史性突破，盘中触及5111.17美元/盎司，首次站上5000美元/盎司心理大关。不过，随后市场进入剧烈波动，一度跌破5000 美元/盎司。1月27日现货黄金继续在5090美元/盎司的高位附近交投。 截至发稿，伦敦金现报5090.78美元/盎司，日内涨1.61%，年初至今涨幅已超17%；COMEX黄金报5089.4美元/盎司，涨0.14%，年初至今涨幅也超17%。 | | 国际贵金属 | | --- | --- | | 名称 | 现价 涨跌 涨跌幅 年初至今 | | 伦敦金现 | 80.790 1.61% 17.89% 5090.780 | | 伦敦银现 | 112.586 8.712 8.39% 57.29% | | COMEX黄金 | 5089.4d 6.9 0.14% 17.48% | | COMEX白银 | 112.515d -2.989 -2.59% 58.52% | 国内金饰价格迅速跟进，1月27日，主流品牌足金价格不少超过1580元/克，周大福、周大生、潮宏基足金饰品价格更是升至1585元/克。 据央视新闻报道，当地时间1月26日，美国总统 ...

Core Viewpoint - Several gold jewelry brands have announced price adjustments for domestic gold jewelry, with some prices remaining at historically high levels as of January 27 [1] Price Adjustments - Chow Sang Sang's domestic price for 24K gold jewelry is set at 1577 RMB per gram, an increase of 3 RMB from the previous day [1] - Lao Miao Gold's price in the Shanghai region is 1575 RMB per gram, unchanged from the previous day [1] - Luk Fook Jewelry's price for 24K gold is 1583 RMB per gram, rising by 7 RMB from the previous day [1] - Chow Tai Fook's prices for 24K gold (jewelry and crafts) and other brands like Xie Rui Lin and Chao Hong Ji are set at 1585 RMB per gram, also an increase of 7 RMB [1] - China Gold's price for 24K gold jewelry remains at 1586 RMB per gram, unchanged from the previous day [1]

Core Viewpoint - The rising international gold prices have led to a shift in consumer behavior from "buying gold" to "how to buy gold to retain value" as domestic gold jewelry prices approach 1600 yuan per gram [1] Group 1: Market Trends - Since 2026, international gold prices have been on the rise, pushing domestic gold jewelry prices up to around 1580 yuan per gram, an increase of over 200 yuan per gram from approximately 1360 yuan per gram at the beginning of 2026, and nearly 100% higher than the 800 yuan per gram at the start of 2025 [1] - The retail sales of gold and silver jewelry in China reached 373.6 billion yuan in 2025, a year-on-year increase of 12.8%, primarily driven by rising gold prices, indicating underlying sales pressure when excluding price factors [1] Group 2: Consumer Behavior - The demand for gold jewelry in China fell to 84 tons in Q3 2025, a year-on-year decrease of 18%, marking the weakest performance for a third quarter since 2007 [2] - Major gold retailers like China Gold are facing significant profit declines, with expected net profits for 2025 projected between 286 million to 368 million yuan, a decrease of 55% to 65% year-on-year due to market pressures [2] Group 3: Promotional Strategies - Gold retailers are employing various promotional strategies such as "gram reduction discounts," "waiving processing fees," and "points redemption" to mitigate the impact of high gold prices on consumer purchases [3] - The "old for new" model is gaining popularity, with approximately 20% of gold jewelry consumption in China now attributed to this practice, allowing consumers to trade in old gold for new pieces at a lower cost [4][5] Group 4: Industry Challenges - Retailers are facing multiple pressures including rising raw material costs, declining consumer demand for jewelry, and cash flow challenges due to high inventory costs [2][6] - The "old for new" model not only helps alleviate the impact of high gold prices but also aligns with green consumption trends, promoting the recycling of gold resources [5] Group 5: Investment vs. Consumption - The boundaries between gold investment and consumption are becoming increasingly blurred, with retailers seeking to balance these aspects amid high gold prices [7] - The emotional and symbolic value of gold is being emphasized, particularly by brands like Lao Pu Gold, which have successfully transformed gold jewelry into a composite product that reflects cultural confidence and individual expression [8]

Market Overview - The jewelry sector experienced a decline of 1.06% on January 27, with Chao Hong Ji leading the drop [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] Individual Stock Performance - China Gold (600916) saw a significant increase of 9.96%, closing at 11.15 with a trading volume of 2.4225 million shares and a turnover of 2.658 billion [1] - Other notable performers included Man Ka Long (300945) with a rise of 1.88% and a turnover of 1.07 billion, while several stocks like ST Xin Hua Jin (600735) and Ming Pai Jewelry (002574) experienced declines of 1.32% and 1.34% respectively [1] - Chao Hong Mu (002345) led the declines in the sector with a drop of 4.88%, closing at 14.03 with a turnover of 407 million [2] Capital Flow Analysis - The jewelry sector saw a net outflow of 205 million from main funds, while retail investors contributed a net inflow of 1.95 billion [2] - The main funds showed a negative net flow in several stocks, including Chao Hong Mu and Jin Yi Culture, indicating a shift in investor sentiment [3] - Retail investors were more active in stocks like Fei Ya Da (000026) and Jin Yi Culture (002721), with significant net inflows [3]

| 今日金店黄金回收价格一览(2026年1月27日) | | | | --- | --- | --- | | 回收报价 | 今日金价 | 单位 | | 黄金 | 1129.40 | 元/克 | | 菜百黄金 | 1165.60 | 元/克 | | 周生生黄金 1154.00 | | 元/克 | | 周大福黄金 1101.00 | | 元/克 | | 老凤祥黄金 1144. 45 | | 元/克 | 这边简单说一下铂金饰品价格，今日铂金价格出现大跌，就拿周大福来说吧，铂金饰品价格下跌67元/克，报1071元/克。如 需了解其他品牌铂金价格，欢迎留言，我们将及时汇总更新。 说完国内金店金价，我们再来讲讲国际金价情况： 继昨日的大涨后，今日各大品牌金店金价仍有上涨走势。从具体报价来看，周大福、潮宏基、周大生以1585元/克的报价并 列成为今日市场最高价。老庙黄金、老凤祥等品牌价格保持平稳。而菜百黄金报价1510元/克，依然为市场最低价。今日金 店高低价差已扩大至75元/克。 以下是各大品牌金店详细报价： | | | 今日金店黄金价格一览(2026年1月27日) | | | | --- | --- | --- | - ...

Group 1 - The precious metals market experienced significant volatility on the 26th, with COMEX gold futures breaking through the $5,100 mark, setting a new historical high, before sharply dropping below $5,000, a decline of over $110 from the peak [1] - On the 27th, during the Asian early trading session, both gold and silver rebounded quickly, with spot gold rising over 1% and spot silver surging more than 5% [1] - Domestic brand gold jewelry prices were adjusted upwards, with several brands approaching 1,600 yuan per gram [1] Group 2 - According to data, Chow Tai Fook and Chao Hong Ji's gold jewelry is priced at 1,585 yuan per gram, an increase of 7 yuan per gram in a single day; Liufuk Jewelry's gold jewelry is priced at 1,583 yuan per gram, also up by 7 yuan per gram; Zhou Liufu's gold jewelry is at 1,580 yuan per gram, up by 7 yuan per gram; and Chow Sang Sang's gold jewelry is priced at 1,577 yuan per gram, with a daily increase of 3 yuan per gram [3] - The current price for gold (jewelry and ornaments) is 1,585 yuan per gram, while the investment gold price is 1,390 yuan per gram, and gold bars and nuggets are priced at 1,575 yuan per gram [6]

Price Adjustments - Several gold jewelry brands have announced price increases for domestic gold jewelry, with some prices remaining stable, still at historical highs [1][3] - On January 27, the domestic price of Chow Sang Sang gold jewelry was 1577 RMB per gram, an increase of 3 RMB from the previous day [1][3] - The price for Lao Miao gold in the Shanghai region was 1575 RMB per gram, unchanged from the previous day [1][3] - The price for Luk Fook Jewelry's gold 999 was 1583 RMB per gram, up by 7 RMB from the previous day [1][3] - The prices for Chow Tai Fook gold (jewelry and crafts), TSL gold jewelry, and Chao Hong Ji gold (ornamental pieces) were all 1585 RMB per gram, an increase of 7 RMB [1][3] - China Gold's gold jewelry price was 1586 RMB per gram, remaining stable compared to the previous day [1][3]

上海恒隆广场内，一家知名金店的玻璃柜台前挤满了人。手指划过手机屏幕查询实时金价的顾客，正与家人视频连线展示金饰的年轻人，还有反复掂量金条 重量的老者——这样的场景，在过去几周里已经成为中国各大城市高端商圈的常态。空气中弥漫着一种复杂的情绪：部分是对资产升值的喜悦，部分是错失 时机的焦虑，还有一部分则是面对历史新高的茫然。 1月26日，国际金价突破每盎司5000美元大关，如一道闪电划破全球金融市场。这一数字不仅是一个新的价格纪录，更是一面映照出我们这个时代经济焦 虑、文化转向与集体心理的镜子。从华尔街的交易终端到北京SKP的奢侈品店门口，一场围绕黄金的叙事正在被重新书写。 一、排队中的经济学：从奢侈品到硬通货的心理迁徙 二、避险逻辑之外的推力：央行、地缘与代际心理的共振 传统上，黄金被理解为避险资产：通胀上行、美元走弱、地缘冲突加剧时，投资者转向黄金寻求庇护。本轮金价飙升，固然有美联储降息预期、全球地缘政 治紧张等宏观背景支撑，但更深层的驱动力正变得多元而复杂。 央行是"沉默的巨鲸"。过去两年，全球央行以数十年来最快的速度增持黄金储备，尤其新兴市场国家，正试图通过黄金来分散以美元为主导的外汇储备风 险。这种战略 ...