中国基金报记者 李智 随着国际金价高位下跌，国内黄金现货与金饰价格普遍下行，金饰克价一夜下跌33元。 11月20日，国内品牌黄金饰品价格再度回升，周大福克价最高，报1305元/克；周六福黄金饰品报价较低，为1263元/克；其他品牌金饰价格大多在1293元/ 克左右。 | 国内现货 | 国际现货 | 黄金实物 | | | --- | --- | --- | --- | | 品牌 | 银行 回收 | | | | 品牌 | | 价格(元/克) 日涨跌幅 | | | 周大福 | | 1305 | +0.77% | | 老凤祥 | | 1291 | +0.47% | | 周六福 | | 1263 | +0.48% | | 周生生 | | 1296 | +0.54% | | 六福珠宝 | | 1293 | +0.54% | | 美玉賞 | | 1293 | +0.54% | | 老庙 | | 1291 | +0.47% | 对于黄金价格的影响因素以及未来走势，光大期货表示，市场降低了对美联储12月降息的押注，美股仍表现出不稳定性，黄金也出现冲高回落。总体来 看，市场缺乏可持续性的利多因素催化，金价短期难摆脱高位震荡甚至再 ...

Group 1 - The Shanghai Gold Exchange issued a notice to continue risk control measures due to recent market instability, urging member units to maintain market stability and protect investors' rights [1] - Gold prices have seen significant fluctuations this year, with spot gold recently breaking historical highs before dropping to $3,900 per ounce and then rising again to over $4,100 per ounce [1] - Domestic gold jewelry prices have also been affected, with a notable drop in prices followed by a rebound, with brands like Chow Tai Fook and Chow Sang Sang showing varying prices per gram [3][4] Group 2 - The market has reduced expectations for a Federal Reserve rate cut in December, contributing to instability in U.S. stocks and causing gold prices to experience volatility [4] - Long-term outlook suggests that increasing U.S. debt pressure may weaken investor confidence in the dollar, making gold an attractive asset as a hedge against dollar credit [5]

Core Insights - The Shanghai Gold Exchange issued a notice emphasizing the need for risk control measures due to recent market instability, urging member units to maintain market stability and protect investors' rights [1] - Gold prices have seen significant fluctuations this year, with recent highs and subsequent declines, indicating a volatile market environment [2] - Domestic gold jewelry prices have recently rebounded after a decline, with major brands showing varying prices per gram [4] Market Overview - The notice from the Shanghai Gold Exchange highlights the importance of risk management in light of multiple factors affecting market stability [1] - Gold prices reached a historical high before experiencing a rapid decline to $3,900 per ounce, followed by a rebound above $4,100 per ounce [2] - Domestic gold jewelry prices have shown a downward trend, with a notable drop of 33 yuan per gram, but have since recovered, with brands like Chow Tai Fook pricing at 1,305 yuan per gram [4] Price Trends - The current prices for major domestic gold brands are as follows: Chow Tai Fook at 1,305 yuan (+0.77%), Lao Feng Xiang at 1,291 yuan (+0.47%), and Chow Sang Sang at 1,296 yuan (+0.54%) [5] - Market analysts suggest that the lack of sustainable positive factors may lead to continued volatility in gold prices, recommending a cautious approach to trading [5] - Long-term perspectives indicate that increasing U.S. debt pressure may weaken confidence in the dollar, making gold an attractive asset for investors seeking to hedge against dollar credit risks [6]

Core Viewpoint - The Shanghai Gold Exchange has issued a notice to continue risk control measures in response to recent market instability, urging member units to maintain market stability and protect investors' rights [2]. Group 1: Market Trends - Gold prices have significantly increased this year, with the Shanghai Gold Exchange issuing multiple risk warnings. Recently, gold prices experienced volatility, reaching a historical high before dropping to $3,900 per ounce and then rebounding to over $4,100 per ounce [3]. - Domestic gold and jewelry prices have generally declined due to the drop in international gold prices, with gold jewelry prices falling by 33 yuan overnight. As of November 20, the price of gold jewelry from major brands has rebounded, with Chow Tai Fook at 1,305 yuan per gram and Chow Sang Sang at 1,263 yuan per gram [5]. Group 2: Price Influencing Factors - According to Everbright Futures, the market has reduced bets on a Federal Reserve rate cut in December, leading to instability in U.S. stocks and causing gold prices to fluctuate. The lack of sustainable positive factors suggests that gold prices may continue to experience high volatility or even weaken in the short term. It is recommended to adopt a wait-and-see approach or consider buying on dips from an asset allocation perspective [6]. - Rida Futures indicates that in the medium to long term, increasing U.S. debt pressure is weakening investor confidence in the dollar. Gold remains an attractive asset as a hedge against dollar credit, and ongoing central bank purchases may further elevate gold price levels [6].

Group 1 - The Asia-Pacific markets, particularly Japan and South Korea, experienced significant declines, with losses exceeding 3% on November 18 [1] - Gold prices, both spot and futures, fell below the $4000 per ounce mark, indicating a notable downturn in the commodity market [3] - The recent cautious stance from the Federal Reserve regarding interest rate cuts reflects concerns over employment risks and inflation, with a 42.9% probability of a 25 basis point cut in December [7] Group 2 - India's gold imports reached $14.7 billion in October, marking a nearly 200% increase year-on-year, driven by consumer purchases during a five-day festival period [9] - Goldman Sachs predicts that central banks will continue to support gold prices, estimating an average monthly purchase of 80 tons of gold from 2025 Q4 to 2026, with a target price of $4900 per ounce by the end of 2026 [10]

AI播客：换个方式听新闻 下载mp3 音频由扣子空间生成 黄金价格近期出现回调，引发市场对这一贵金属今年强劲涨势是否已接近尾声的质疑。 4000美元下方似乎有抄底资金支撑，但黄金过去一个月仍累计下跌7.4%。这一表现虽难以让人安心， 但高盛近期重新评估了2026年黄金价格前景，并指出一个可能决定金价下一步走势的关键催化剂。 2025年黄金大涨的背后：收益率下跌+美元走弱 从GDP增长数据来看，美国经济表现良好；然而，失业率上升与通胀反弹等明显问题已显现，将美联储 置于两难境地。 薪资处理公司ADP数据显示，美国就业市场新增岗位数量低于2024年水平。企业裁员人数激增，失业率 升至2021年以来最高水平。与此同时，美国总统特朗普的关税策略推高了进口成本，可能导致通胀上 升。 美国劳工统计局8月报告显示，失业率从7月的3.4%升至4.3%。Challenger, Gray & Christmas的数据显 示，截至10月，美国雇主今年已宣布裁员110万人，较2024年同期增长44%。 求职网站Resume.org的一项研究显示，2025年有40%的公司进行了裁员，60%的公司预计2026年将削减 员工。 与此同时， ...

美国最高法院将于1月21日就特朗普是否有权解雇美联储理事丽莎·库克进行口头辩论。特朗普指控库克 多年前在抵押贷款文件上作假陈述，但她未受任何指控。 分析人士认为，特朗普此举意在安插支持大幅降息的鸽派理事，削弱美联储独立性。奥康奈尔表示，若 裁决有利于总统，将重创美联储公信力，利好黄金并可能压低美元。 尽管口头辩论即将举行，但最终判决不会很快出台，库克短期内将继续留任。目前美联储虽已降息，但 鲍威尔强调12月进一步行动并非必然，市场预计降息概率为65%。 摘要周四(11月13日)欧盘时段，伦敦金目前交投于4223一线上方，截至发稿，伦敦金暂报4231.65美元/ 盎司，上涨0.87%，最高触及4233.94美元/盎司，最低下探4179.49美元/盎司。目前来看，伦敦金短线偏 向上涨走势。 周四(11月13日)欧盘时段，伦敦金目前交投于4223一线上方，截至发稿，伦敦金暂报4231.65美元/盎 司，上涨0.87%，最高触及4233.94美元/盎司，最低下探4179.49美元/盎司。目前来看，伦敦金短线偏向 上涨走势。 【要闻速递】 美联储独立性受威胁的担忧，已推动金价创历史新高。StoneX分析师奥康奈尔认为， ...

编辑：吴丽莉 杨静仪 摩根大通周三发布的一份报告中表示，预计央行和消费者将在价格下跌期间成为可靠的买家，并预计到 2026年第四季度金价将超过每盎司5000美元。 渣打银行则继续预计，今年第四季度黄金均价为每盎司4000美元。 内容来源：中国基金报 在此前一度跌破4100美元之后，现货黄金再度拉升！ 北京时间11月13日早，现货黄金升破4200美元/盎司。截至记者发稿，现货黄金报4202.648美元/盎司， 日内涨0.19%。 | < W | 伦敦金现 | | | | Q | | --- | --- | --- | --- | --- | --- | | | SPTAUUSDOZ.IDC | | | | | | 4202 648 " | | | 4194.605 总量 | | 0 | | +8.043 | | +0.19% 升盘 | 4195.020 现手 | | 0 | | 最高价 | 4206.670 持 仓 | | 0 | 外盘 | 0 | | 最低价 | 4194.590 增 仓 | | 0 | 内 盘 | 0 | | से स्थ | 五日 日K | | 周K 月K | 更多 | (0) | | 叠 ...

瑞银分析师Giovanni Staunovo表示："所有人都在等待政府'停摆'的更明确消息，以及美国数据何时出 炉。就黄金价格而言，我们仍认为处于上升趋势。结构方面没有任何改变。" 摩根大通周三发布的一份报告中表示，预计央行和消费者将在价格下跌期间成为可靠的买家，并预计到 2026年第四季度金价将超过每盎司5000美元。 渣打银行则继续预计，今年第四季度黄金均价为每盎司4000美元。 | < W | 伦敦金现 | | | | Q | | --- | --- | --- | --- | --- | --- | | | SPTAUUSDOZ.IDC | | | | | | 4202 648 "F | | | 4194.605 总量 | | 0 | | +8.043 | +0.19% 开盘 | | 4195.020 现手 | | 0 | | 最高价 | 4206.670 持 | 世 | 0 | 外 盘 | 0 | | 最低价 | 4194.590 增 | 色 | 0 | 内 盘 | 0 | | 分时 | 五日 日K | | 周K | 重念 | (0) | | 量加 | | | 均价:0.000 | | | | 42 ...

11月10日早盘，黄金市场出现惊人变化。伦敦金一度冲到 4056.64 美元 / 盎司，单日涨 42.26 美元，涨 幅 1.05%；国内上海黄金 T+D 突破 928 元 / 克，较前一天涨 12.36 元，涨跌幅 1.35%。 其次，从技术面看，4050 美元 / 盎司关键压力位的突破，触发了机构和投资者的 "自动买入指令"，跟 风买入者众多。 最后，长期支撑黄金上涨的因素未变，全球央行持续购金，2025 年三季度全球央行净购金量达 220 吨，环比增长 28%。 不过，这波行情也存在潜在风险，若美国经济数据超预期向好，降息预期降温，或投资者大量止盈离 场，金价可能会回调。 这波行情的出现主要有三方面原因。首先，美国政府停摆结束，降息预期重新点燃，作为与美元、利率 呈负相关的黄金，吸引力大增。 此前，国际金价从 4300 美元 / 盎司的高位一度跌破 3950 美元 / 盎司，而此次突然 "V 型反弹" 并突破 4050 美元 / 盎司的关键压力位，让市场议论纷纷。有人认为这是新一轮上涨的开始，也有人觉得只是 短期反弹。 ...