有迹象显示，尽管亚洲买家仍在马不停蹄地扫货黄金实物资产，但曾热衷购买金条和金币的美 国人如今却正在高位试图套现，这一分歧似乎或多或少地表明，全球各地的投资者对经济前景 和黄金市场的走向，有着截然不同的看法。 数据显示， 美国市场上的金条和金币目前正出现供过于求的状况，部分贵金属经销商已将溢价降 至六年来的最低水平以刺激销售。当散户投资者试图出售黄金时，现在需要支付给经销商额外费用 才能成功脱手。 研究咨询公司Metals Focus Ltd.董事总经理Philip Newman对此表示，"许多美国散户投资 者倾向于支持共和党。因此，无论我们如何评价关税政策，他们似乎都不抵触特朗普的行事方 式。因此，从他们的角度来看，购买黄金的理由减少了。" 花旗集团大宗商品策略师Kenny Hu对媒体表示："当存在恐惧时，他们(美国投资者)会持有更 多黄金，减少风险资产配置。现在他们可能觉得情况其实还好。 关税没那么糟糕。事情可以 通过谈判解决。地缘紧张局势最终会缓和，美国经济增长也许也不会那么差。" 而与此同时，根据世界黄金协会的最新数据， 2025年第一季度亚太地区对金条和金币的需求依 然强势增长了3% ，其中中国市场同 ...

Group 1 - The economic data for May in the U.S. shows a stark contrast between consumer spending and inflation, leading to unexpected market reactions. Consumer spending unexpectedly declined by 0.1%, contrary to the anticipated increase of 0.1%, indicating a significant cooling in the consumption market [1] - In contrast, the core PCE year-on-year rate surged to 2.7%, the highest since February 2025, with a month-on-month increase of 0.2%, far exceeding market expectations of stagnation. This combination of weak consumer data and high inflation places the Federal Reserve in a difficult position [1] Group 2 - Traders are predicting that the Federal Reserve may be forced to cut interest rates three times in 2025 to balance the economy. Following this, the gold market experienced a brief rebound after an initial drop, but this was seen as a temporary phenomenon due to short covering [3] - Technically, the gold market shows a bearish arrangement in the 1-hour moving average, indicating that bearish forces are dominant. Gold is currently facing resistance around the key level of 3295, which has become a short-term dividing line for bulls and bears [3]

Group 1 - The Federal Reserve's monetary policy direction has garnered significant market attention, with notable internal disagreements among officials regarding the policy path, leading to an increased probability of interest rate cuts in July [1] - Research indicates that certain members, such as Waller and Bowman, support a July rate cut under specific conditions, while hawkish representative Harker remains cautious about rate cuts within the year [1] - Minneapolis Fed President Kashkari anticipates two rate cuts this year, with the first cut potentially occurring in September, while also warning about the lagging impact of tariffs on inflation and emphasizing the need for policy flexibility [1] Group 2 - The ongoing tariff discussions have been pushing inflation expectations higher, with May data exceeding expectations, further reinforcing the Fed's stance of maintaining higher rates for a longer duration [1] - Based on data analysis, the outlook for gold is considered bearish in the upcoming week [1]

2025年6月26日，上海黄金交易所正式启用在香港设立的国际板指定仓库。这一举措标志着中国黄金市场国际化进程迈出重要步伐。当日，上金所同步上线 在香港交割的黄金交易合约，多家中外机构顺利完成首日交易。此次香港指定仓库的设立，是落实《上海国际金融中心进一步提升跨境金融服务便利化行动 方案》的具体体现。该方案明确支持上金所与境外交易所开展产品授权合作，探索特定品种交割国际化，设置境外交收库。 离岸交割体系正式建立 上金所在香港设立的国际板指定仓库由中国银行（香港）负责营运。该仓库为首个离岸国际板指定仓库，同时提供交易库服务和保管库服务。香港指定仓库 对存储保管的贵金属实物安全承担全部责任。 香港作为国际金融中心，具备高度开放的市场环境。上金所选择在香港设立首个国际板指定交割仓库，有利于提升中国在国际黄金市场的话语权。这一安排 为国际投资者提供了"人民币—黄金"的闭环兑换通道，增强了人民币作为储备货币的信用基础。 离岸人民币黄金实物交割的实现，有助于提升投资者对人民币计价黄金的投资偏好。随着人民币计价黄金交易规模不断扩大，黄金与人民币的绑定关系将持 续加深。这种机制扩大了人民币使用范围，增加境外市场对人民币的需求和 ...

黄金创6月新低，星期五会否现抛盘行情？欧盘时段可先留意这一支撑！V助理团实时分析市场走势， 点击获取当天智囊团私人服务，领取黄金分析>> 相关链接 ...

黄金美盘再度杀跌，下方支撑位关注何处？空头在此处需留意离场信号！V助理团实时分析市场走势， 点击获取当天智囊团私人服务，领取黄金分析>> 相关链接 ...

Group 1 - The gold market has experienced a period of low volatility, with the smallest daily fluctuation in nearly six months, only $15 during the Asian session and $25 for the entire trading day [3][5] - Recent analysis indicates that the gold price has been fluctuating, with a notable drop after a peak, and a subsequent rebound aligning with expectations [3][5] - The current short-term outlook for gold is a potential rebound, while the medium-term trend suggests a rise followed by a decline [5][6] Group 2 - Key support levels for gold are identified at 2614 since the New Year, with additional support at 2957-3120 and the June 9 low, as well as the 60-day moving average [5] - The short-term focus remains on the resistance levels around 3355-3360, with a potential upward breakout extending to 3380 or even 3400 [6][10] - The strategy includes monitoring specific price levels for trading decisions, emphasizing strict stop-loss measures to manage risk [8][12]

黄金市场近期波动剧烈，金价跌至新低，投资者对黄金市场的关注再度升温，当前黄金市场 的走势受到全球经济形势、地缘政治风险以及投资者情绪等多重因素的影响，投资者需密切 关注市场动态，谨慎评估风险，灵活调整投资策略，黄金投资的新观察显示市场不确定性增 加，投资者应保持理性，分散投资风险。 金价下跌原因解析 | | | = | 题 五 | 15 | 日 | | --- | --- | --- | --- | --- | --- | | 5-20 | 5-21 5-22 | | 5-23 5-24 | | 5-25 5-26 | | 895 | 560 | 563 | 555 543 | | 543 543 | | 5-27 | 5-28 | 5-29 | 5-30 5-31 | | 6-01 6-02 | | 544 | 448 | 549 | 544 546 | | 544 544 | | 6-03 | 6-04 6-05 | | 6-06 6-07 | | 6-08 6-09 | | 542 | 546 | 542 | 551 552 | | 休班 体育 | | 6-10 | 6-17 | 6-12 | 6-13 ...

高端商场黄金珠宝专家交流 20250624 摘要 2025 年 1 月至 5 月，北京 SKP 中国黄金增速达 199%，主要受 4 月大 单驱动；剔除该因素，菜百、周大福等品牌增速在 30%-50%之间，反 映黄金品类整体增长态势。 新品牌如老凤祥通过提价预告、会员政策调整和新品研发，显著提升了 2025 年销售业绩，表明灵活的市场策略对品牌增长至关重要。 老铺凭借精湛工艺和黄金镶嵌优势，在 2025 年北京 SKP 销售额大幅增 长，4 月 SKPS 新店单月销售额达 7,000 万元，预计全年增速超 200%。 老铺客户画像稳定，客单价因涨价突破 3 万元，饰品销售占比 89%，女 性顾客占比 85%，与奢侈品和国际珠宝品牌客户重叠度上升至 38%。 北京 SKP 引入老凤祥、周大生国家宝藏等新品牌，月均业绩约 200 万元， 但国家宝藏表现较弱，表明品牌认知度和合作款式对业绩有直接影响。 美妆赛道整体承压，北京 SKP 美妆销售下降 5%，但成都市场表现强势， 总体增长 6%。毛戈平快闪店在北京 SKP 月均销售额达 400 万元。 未来五年黄金市场预计将保持红利期，受经济环境和消费者保守心态驱 动， ...

黄金陷入重压区难突破！美盘再度回落，空头能否进场？V助理团实时分析市场走势，点击获取当天智 囊团私人服务，领取黄金分析>> 相关链接 ...