Group 1 - International gold prices have started to retreat after reaching historical highs, but brands like Laopu Gold have increased prices for gold jewelry, marking the third price hike this year [1] - Laopu Gold's price adjustments have led to significant increases in the prices of several popular gold products, with some rising over 20%, and certain items being out of stock or quickly selling out [1] - Chow Tai Fook plans to raise retail prices of gold products by 12% to 18% by the end of October, indicating a mechanism to monitor gold price fluctuations and adjust prices accordingly [1] Group 2 - Laopu Gold reported a substantial increase in revenue and profit for the first half of 2025, with revenue reaching 12.354 billion yuan, a 251% year-on-year increase, and adjusted net profit at 2.35 billion yuan, a 291% increase [2] - Despite the rapid growth, Laopu Gold's gross margin slightly declined to approximately 38.1% due to the impact of rising gold prices following price adjustments [2] - The recent drop in spot gold prices, which fell nearly 2% to $4,030 per ounce, is attributed to profit-taking by investors after a prolonged increase in gold prices since September [2] Group 3 - Goldman Sachs attributes the current sell-off in gold to speculative position liquidations and spillover effects from the silver market, rather than a deterioration in fundamentals [3] - Structural buying from central banks, ultra-high-net-worth individuals, and long-term asset allocation institutions continues to support gold prices [3] - Morgan Stanley views the recent decline in gold prices as a short-term correction rather than the end of a bull market, with ongoing global central bank purchases and geopolitical risks providing support for gold prices [3]

美国政府关门持续及地缘政治紧张局势助推金价上涨，市场对美联储进一步降息的预期也为金价提供支撑。交易员将 密切关注贸易局势变化，此前因贸易紧张局势缓和及美元需求回升，黄金遭遇猛烈抛售。Tradu.com高级市场分析师 Russell Shor表示，此次抛售似乎主要是技术性调整，由于金价自9月以来长期处于超买状态，投资者纷纷获利了结。 尽管出现回调，但黄金价格今年累计涨幅仍达55%左右，且长期主要上升趋势依然稳固未破。在周五CPI数据公布前选 择获利了结也是黄金遭遇抛售的原因之一。由于美国政府停摆导致经济数据停止公布，周五即将公布的美国9月CPI通 胀数据备受关注。若数据高于预期，可能在短期内提振美元，并对黄金价格构成压力。 摘要周四(10月23日)欧盘时段，伦敦金目前交投于4106一线上方，截至发稿，伦敦金暂报4110.88美元/盎司，上涨 0.32%，最高触及4136.89美元/盎司，最低下探4064.51美元/盎司。目前来看，伦敦金短线偏向下跌走势。 周四(10月23日)欧盘时段，伦敦金目前交投于4106一线上方，截至发稿，伦敦金暂报4110.88美元/盎司，上涨0.32%，最 高触及4136.89美元/盎 ...

Core Viewpoint - The report from Guosen Securities indicates that after a rapid increase in gold prices, a phase of adjustment and volatility may occur, but the long-term upward trend remains intact [1][2][6]. Group 1: Current Market Dynamics - The immediate trigger for the recent drop in gold prices is the cooling of risk aversion sentiment due to potential developments in the Ukraine crisis [1]. - The current gold price cycle (from November 2022 to October 2025) shows a steep and rapid increase, with a return of 163.66% from a low of $1628.75/oz to a peak of $4294.35/oz, significantly exceeding the average return of 96.1% in similar historical periods [2]. - Historical data suggests that previous gold price increases have experienced mid-cycle adjustments, yet they ultimately maintained a long-term upward trend [2][6]. Group 2: Technical Analysis - High volatility is identified as a core reason for the recent short-term drop in gold prices, with gold's volatility level surpassing that of both oil and U.S. stocks [4]. - The speed of price recovery after corrections has accelerated, indicating a stronger influence of short-term liquidity on market dynamics [3]. Group 3: Long-term Outlook - Even if the Ukraine crisis subsides, global economic and trade unilateralism will continue to support gold prices in the long term, driven by heightened geopolitical uncertainties [5]. - The fundamental logic supporting a long-term bullish outlook for gold prices remains valid as long as the global shortage of safe-haven assets and the depreciation of U.S. dollar credit persist [7].

Group 1 - International gold prices experienced a significant drop, with spot gold falling by 5.31% to $4124.36 per ounce, marking the largest single-day decline since April 2013 [2][3] - Following the sharp decline, gold prices rebounded slightly, with Shanghai Gold Exchange Au99.99 closing at 948.8 yuan per gram and London spot gold rebounding to $4160.1 per ounce [3] - Despite the volatility in gold prices, consumer interest in gold jewelry remains strong, particularly for lower-weight gold items, as seen in retail promotions [4][5] Group 2 - The year-to-date increase in gold prices is approximately 60%, with a peak of $4381.21 on October 20, followed by a drop exceeding 8% in the subsequent days [3] - Retailers are responding to the price fluctuations by offering promotions, such as discounts on gold jewelry, to attract customers [4] - Analysts suggest that the long-term outlook for gold remains bullish, with Deutsche Bank indicating that gold's share in global reserves has risen to 30%, while the share of the dollar has decreased [6]

北京时间10月22日晚间，国际金价再度大跌，截至发稿，伦敦金现跌2.46%至4023美元/盎司。 | 伦敦金现 | 4023.260 | -101.510 | -2.46% | | --- | --- | --- | --- | | 伦敦银现 | 47.775 | -0.887 | -1.82% | | COMEX黄金 | 4035.1 d | -74.0 | -1.80% | | COMEX白银 | 47.420 d | -0.284 | -0.60% | 此前一个交易日，国际金价出现大跌行情，当天伦敦金现价格暴跌超过5%，单日每盎司下跌超过200美元，盘中价格一度跌破4100美元/盎司。 10月22日，国际金价盘中巨震，当天早间，伦敦金现价格一度跌破4010美元/盎司，随后又震荡拉升走高，一度转涨。午后震荡走低转跌，直至傍晚加速下 跌。 金价巨震。 光大期货贵金属资深研究员展大鹏表示，俄乌局势出现重大转折，是黄金大跌的直接原因。乌克兰与欧洲主要国家发表的联合声明支持特朗普"立即停战"立 场，并以现有接触线为谈判起点。作为自2022年以来央行购金与金价上涨的重要驱动因素之一，俄乌冲突若迎来实质性缓和，将对黄 ...

Core Viewpoint - The recent extreme fluctuations in gold prices are attributed to an overcrowded bullish market, leading to profit-taking by long positions after a significant price increase since September [2][5]. Price Movement - On October 21, spot gold experienced a sharp decline of 6.3%, reaching approximately $4080 per ounce, marking the largest single-day drop since April 2013. The closing price on that day was down 5.31%, the largest drop in nearly 12 years [3][4]. - On October 22, spot gold further dipped to a low of $4002 per ounce before recovering, with the price stabilizing around $4139 per ounce at the time of reporting [3]. - COMEX gold futures also fell by 5.07% on October 21, closing at $4138.5 per ounce [4]. Market Impact - The decline in gold prices has negatively affected gold-related stocks, with companies like Shandong Gold and Zhongjin Gold opening down over 7% on October 22, and closing down more than 3% [4]. - Several jewelry brands reported a decrease in domestic gold jewelry prices, with notable drops in the prices of gold per gram [4]. Factors Behind the Decline - The extreme market conditions are primarily due to a high level of bullish sentiment, with significant profit accumulation since September, prompting profit-taking [5]. - Short-term risk factors have eased, including positive signals in U.S.-China trade relations and a reduction in geopolitical tensions, leading to decreased demand for gold as a safe haven [6]. - Technical analysis indicates that gold prices had risen too quickly, reaching overbought conditions, necessitating a correction [6]. Future Outlook - Analysts believe that the recent price correction is a normal occurrence and does not alter the long-term upward trend for gold prices, despite recent easing in U.S.-China trade tensions [7]. - Historical trends suggest that after a prolonged period of price increases, gold may experience a correction of 20% to 40% within the following year [8]. - The World Gold Council indicates that gold is likely to remain resilient, especially during stock market corrections, as long as there are no significant liquidity crises [9].

10月22日金价速报，国内金店黄金价格大幅下跌，整体价格和上周三差不多，还是很高。其中，周生生 黄金跌的相对比较少，下跌51元/克，报价1238元/克，为新的最高价金店。上海中国黄金下跌40元/克， 报价1135元/克，稳定成为最低价金店。今日黄金高低价差有所拉近，报103元/克。 以下是各大品牌金店详细报价： 今日金价 单位 变动幅度 涨跌 老庙黄金价格 1211 元/克 57 83 跌 六福黄金价格 1235 元/克 57 跌 周大福黄金价格 1235 元/克 跌 周六福黄金价格 1145 元/克 64 跌 今日金店黄金价格一览（2025年10月22日） 金店报价 金至尊黄金价格 1235 元/克 57 潮宏基黄金价格 1235 元/克 57 跌 跌 老凤祥黄金价格 1229 元/克 61 跌 周生生黄金价格 跌 菜百黄金价格 1182 元/克 1238 元/克 51 40 跌 上海中国黄金价格 1135 元/克 40 跌 今日金店铂金价格同样出现大跌，就拿周生生黄金来说，铂金饰品价格下跌20元/克，报641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。 此外，今日黄金回收价格也是跌了 ...

港股黄金股普跌，潼关黄金跌超9%，中国白银集团、中国黄金国际跌超8%，集海资源跌近8%，山东黄 金、灵宝黄金、招金矿业跌超6%，紫金黄金国际跌超5%，紫金矿业、赤峰黄金、珠峰黄金跌超4%。 昨日，现货黄金价格一度暴跌逾6.3%，创十余年来最大单日跌幅。 花旗银行预计，美国政府停摆结束及中美协议公布可能推动黄金在未来2-3周内进入震荡整理阶段。花 旗银行表示短期内看跌黄金（此前看涨，现转为看跌），设定0-3个月目标价为4000美元/盎司。 港股频道更多独家策划、专家专栏，免费查阅>>责任编辑：栎树 ...

Gold Technical AnalysisThe $4,200 level in the gold market looks like it is going to continue to offer support, and it is worth noting that we initially tried to rally a bit and then fall apart. All things being equal, this is a market that I think continues to see a lot of back-and-forth action, perhaps a little bit of sideways action. We’ll just have to wait and see. But this is a market that I think is hanging around $4,200 and $4,400. But if we break down below $4,200, then we could see a market drop do ...

Group 1 - HSBC raised its 2025 gold price forecast by $100 to $3,455 per ounce, expecting it to reach $5,000 per ounce in 2026 [1] - Despite record gold prices, physical gold demand in Asia remains strong, with India's premiums hitting a ten-year high before the festival season [1] - JPMorgan CEO Jamie Dimon stated that gold prices could potentially reach $5,000 per ounce and may even touch $10,000 per ounce under current market conditions [1] Group 2 - According to GF Futures, the U.S. economy and job market are facing recession risks due to government shutdowns, which may strengthen expectations for interest rate cuts by the Federal Reserve [3] - The ongoing fiscal and monetary policy turmoil in developed countries like Europe and Japan is expected to reshape a new asset pricing system, favoring commodities like precious metals [3] - Short-term uncertainties from Trump's policies and U.S.-China tensions may affect the pace of gold price increases, with market volatility anticipated before the APEC meeting in late October [3]