格隆汇12月1日｜现货黄金延续涨势，突破4250美元/盎司，日内涨0.76%。 （责任编辑：宋政 HN002） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ...

Core Viewpoint - The international gold price is experiencing a significant upward trend, primarily driven by market risk sentiment and expectations of interest rate cuts by the Federal Reserve, alongside ongoing geopolitical tensions in the Russia-Ukraine conflict [1] Group 1: Market Dynamics - As of December 1, spot gold rose by 0.38% to $4239.22 per ounce, with an intraday high of $4256.55 per ounce [1] - The volatility in market risk sentiment is a key factor influencing gold prices, with the expectation of a Federal Reserve interest rate cut being a dominant driver [1] Group 2: Geopolitical Factors - The unresolved situation in Ukraine continues to sustain market risk aversion, contributing to the demand for gold as a safe-haven asset [1] Group 3: Central Bank Behavior - Global central bank gold purchases are crucial to monitor, especially in December, which is a key settlement period; such purchases are seen as effective means to stabilize foreign exchange and financial markets, providing upward momentum for gold prices [1] Group 4: Investment Strategy - While some investment banks hold an optimistic outlook on future gold price increases, individual investors are advised to remain cautious, focusing on the resilience and sustainability of price levels above $4200 per ounce, with potential targets of $4300 and $4400 per ounce [1] - Investors are encouraged to maintain flexibility in their investment strategies, with small amounts of capital suggesting options like paper gold and bank-stored gold for asset allocation [1]

【环球网财经综合报道】据美国消费者新闻与商业频道（CNBC）报道，高盛的一项调查发现，36%的受访投资者客户认为黄金将在2026年底达 到5000美元/盎司。 高盛在其Marquee平台上对900多名机构投资者客户进行的一项调查显示，占比最大（36%）的一组受访者预计黄金将保持涨势，并在2026年年底 前突破每盎司5000美元。另有33%的受访者预计，黄金价格将升至每盎司4500美元至5000美元之间。 高盛表示，超过70%的机构投资者认为2026年黄金价格会上涨。相比之下，在受访者中，只有略高于5%的人认为，未来12个月黄金价格将回落至 每盎司3500美元至4000美元之间。 今年以来，黄金价格已上涨58.6%，并于10月8日首次突破每盎司4000美元。近期受美联储降息预期提振，11月28日黄金价格升至两周高位，现货 黄金价格上涨0.45%，至每盎司4175.50美元。黄金期货价格上涨0.53%，至每盎司4187.40美元。 全球各国央行也纷纷涌入黄金市场，它们被黄金的高流动性、无违约风险以及作为储备资产大致中立的地位所吸引。 Blue Line Futures首席市场策略师Phil Streible表示， ...

Group 1 - The price of gold reached a new high on November 29, 2025, driven by expectations of a Federal Reserve interest rate cut in December and a weakening dollar, with London spot gold hitting $4,229 per ounce [1] - Domestic gold prices also increased, with real-time prices at 959 yuan per gram and gold recycling prices at 940 yuan per gram [1] - Brand gold jewelry prices rose across the board, with Chow Tai Fook at 1,328 yuan per gram (up 7 yuan), Chow Sang Sang at 1,330 yuan per gram, and Caibai Jewelry increasing by 10 yuan to 1,292 yuan per gram [1] Group 2 - In the bank gold bar segment, Industrial and Commercial Bank of China (ICBC) reported a price of 977.18 yuan per gram, while Agricultural Bank of China (ABC) had a price of 992.49 yuan per gram, indicating a strong upward trend in precious metals [3] - The current market conditions suggest that individuals interested in purchasing or recycling gold should closely monitor real-time market trends [3]

现货黄金向上触及4200美元，日内上涨1.03%。 ...

Core Viewpoint - The A-share market opened weakly, while spot gold approached the $4,200 per ounce mark, with gold stocks rising and the gold ETF (159834) increasing by 0.82%, expanding its year-to-date gain to 53.36% [1] Group 1: Gold Market Dynamics - Spot gold has rebounded over 2% this week after a decline of more than 5% since its peak on October 20, supported by indications of a potential interest rate cut by the Federal Reserve [1] - The probability of a 25 basis point rate cut in December exceeds 80%, which typically benefits gold assets [1] - Factors supporting the rise in gold prices include challenges to the dollar's credit system, a 44% average annual growth in central bank gold purchases from 2020 to 2024, and the ineffectiveness of the real interest rate pricing framework in a high inflation environment [1] Group 2: Gold ETF Performance - The latest scale of the gold ETF (159834) is 1.282 billion yuan, an increase of 802 million yuan since the beginning of the year, representing a growth rate of over 160% [2] - The ETF closely tracks the spot price of gold contracts on the Shanghai Gold Exchange, offering high transparency and liquidity, and supports T+0 intraday trading [2]

Group 1 - The core point of the article is that spot gold has surpassed $4,170 per ounce, with a daily increase of 0.31% [1]

Core Viewpoint - International gold prices have surged, reaching a historical high of $4,300 per ounce in October, with a year-to-date increase of over 58%, leading to heightened market attention on the performance of leading gold companies like Chow Tai Fook [1] Group 1: Financial Performance - Chow Tai Fook reported a revenue of HKD 38.986 billion for the first half of the 2026 fiscal year, a decrease of 1.1% year-on-year [1] - The operating profit was HKD 6.823 billion, reflecting a year-on-year increase of 0.7% [1] - Shareholder profit stood at HKD 2.534 billion, a slight increase of 0.1% compared to the same period last year [1] Group 2: Product Strategy - The "fixed-price" gold jewelry products have emerged as a key growth driver, with the gross profit margin maintained above 30% due to high-margin pricing and rising gold prices [4] - Sales from key product series, including the Palace Museum series, reached HKD 3.4 billion, up approximately 48% from HKD 2.3 billion in the previous year [4] - The retail value contribution of fixed-price jewelry in mainland China increased from 27.4% to 31.8%, with the average selling price of fixed-price gold jewelry rising from HKD 5,300 to HKD 6,300 [4] Group 3: Retail Strategy - Chow Tai Fook closed 611 retail points in the past six months, reducing the total number of retail points in mainland China to 5,663 as of September 30, 2025 [5][7] - The company reported a 2.6% increase in same-store sales in mainland China, indicating improved performance from the store optimization strategy [7] - Chow Tai Fook is strategically expanding into high-end shopping centers and core locations to enhance brand appeal, with plans to open six new stores in international markets by June 2026 [7] Group 4: Pricing Adjustments - In response to rising international gold prices, Chow Tai Fook has implemented multiple price increases, with adjustments ranging from 10% to 20% in March and 12% to 18% in late October [8] - As of November 26, the company had completed three rounds of price increases throughout the year [8]

Core Insights - The gold price of Mingpai Jewelry on November 26 is reported at 1315 CNY per gram, reflecting an increase of 56 CNY or 4.45% compared to the beginning of the month [1][2] - The current price is 18 CNY lower than the highest price of the month and 60 CNY higher than the lowest price, with an average price of 1294 CNY per gram for the month [1][2] Monthly Price Statistics - Current price: 1315 CNY per gram [2] - Daily price change: 0% [2] - Highest price of the month: 1333 CNY per gram [2] - Lowest price of the month: 1255 CNY per gram [2] - Difference from highest price: -18 CNY [2] - Difference from lowest price: 60 CNY [2] - Average price for the month: 1294 CNY per gram [2]

Core Viewpoint - Gold is expected to continue its record-setting rally, with forecasts suggesting a potential increase of up to 20% by 2026, following a significant year-to-date rise of 57% [1][2]. Group 1: Price Predictions - Bank of America predicts gold could reach $5,000 an ounce by next year, indicating a 19% increase from current levels, driven by factors like growing US deficit spending and macroeconomic policies [4]. - Goldman Sachs estimates gold may hit $4,900 an ounce by the end of next year, reflecting a 17% increase, supported by persistent bullish factors [5]. Group 2: Bullish Factors - Increased central bank buying is a significant driver, as central banks seek to diversify their reserves into gold, perceived as a safe asset following geopolitical tensions [7]. - Anticipated cuts in interest rates by the Federal Reserve, estimated at around 75 basis points, are expected to boost investment in gold as a non-yielding asset, with similar actions anticipated from other central banks globally [7].