Core Viewpoint - International gold prices have reached new highs, with London gold surpassing $3,895 per ounce and COMEX gold breaking $3,900 per ounce, indicating a strong upward trend in the gold market [1][3]. Group 1: Market Trends - The gold jewelry market is experiencing a surge in prices, with retail prices for gold jewelry reaching 1,130 RMB per gram for brands like Chow Sang Sang and 1,129 RMB for Chow Tai Fook [5][7]. - The price of gold jewelry in the Shenzhen Shui Bei market has increased from approximately 796 RMB per gram in early September to 888 RMB per gram [7][10]. - The international gold price has seen a significant increase of nearly 11.8% in September and approximately 16.8% in the third quarter, with a year-to-date increase of around 47% [10]. Group 2: Consumer Behavior - Many consumers are currently in a wait-and-see mode regarding gold purchases, despite the rising prices, indicating a cautious approach to buying [8][10]. - There is a notable increase in tourists purchasing gold in Shenzhen, suggesting that the market is attracting external buyers due to the price surge [8]. Group 3: Business Strategies - Jewelry retailers are adopting a strategy of "buying as much as they sell" to mitigate risks associated with high inventory costs during price fluctuations [8]. - The profit margins for gold jewelry are reported to be between 10% to 20% for weight-based pricing, while "one-price" gold jewelry can have margins of 30% to 40% [8]. Group 4: Future Outlook - Analysts predict that gold prices may continue to rise, with UBS forecasting a price of $4,200 per ounce by mid-2026, driven by factors such as a weaker dollar and increased central bank purchases [11]. - Goldman Sachs maintains a target price of $4,000 per ounce for gold by mid-2026, with potential for prices to exceed $4,500 per ounce under certain conditions [11].

Core Viewpoint - The article discusses the significant IPO of Zijin Gold, a subsidiary of Zijin Mining, which is well-positioned to capitalize on the rising gold prices and has substantial gold reserves and production capabilities [4][5][7]. Group 1: Company Overview - Zijin Gold holds 8 overseas gold mines with a total gold reserve of 856 tons, projecting revenues of $2.99 billion (approximately 21.4 billion yuan) and profits of $481 million (approximately 3.4 billion yuan) for 2024 [5][26]. - The company is backed by Zijin Mining, which has integrated all overseas gold mining assets into Zijin Gold after its spin-off, enhancing its market position [6][20]. - Zijin Mining's market capitalization exceeds 540 billion HKD, indicating strong investor confidence and potential for value enhancement through the spin-off [7][35]. Group 2: Market Context - The timing of Zijin Gold's IPO coincides with a bullish cycle in gold prices, which have seen a cumulative increase of 26% in 2024, with gold prices hitting record highs [33][34]. - The performance of other gold stocks, such as Chifeng Jilong Gold and Zhou Li Fu, has been impressive, with significant stock price increases following their IPOs [8][37]. - The article highlights the growing interest in gold as a safe-haven asset amid complex international dynamics and monetary easing, with Chinese central banks increasing their gold reserves for eight consecutive months [29][30]. Group 3: Financial Performance - Zijin Gold's revenue and net profit have shown substantial growth from 2022 to 2024, with revenues of $1.818 billion, $2.262 billion, and $2.99 billion, and net profits of approximately $184 million, $230 million, and $481 million respectively [26][27]. - The company plans to further enhance its gold resource reserves and production by acquiring the Raygorodok gold mine in Kazakhstan for $1.2 billion (approximately 8.6 billion yuan) [24].

Group 1 - The core viewpoint of the article highlights the significant drop in the second-hand market prices of Labubu 3.0 series collectibles following a large restock by Pop Mart, indicating a shift in supply and demand dynamics [2][4] - The Labubu 3.0 series saw a price drop in the second-hand market from 1100-1500 yuan to 600-900 yuan after the restock, reflecting a decrease in perceived scarcity among consumers [2][4] - Pop Mart's stock price fell over 5% on June 19, following a period of substantial growth where it had increased by 100% from March to mid-June, and over 11 times since the beginning of 2024 [4] Group 2 - International spot gold prices have been on a downward trend, with a continuous decline observed from June 16 to June 18, and prices fluctuating around 3400 USD per ounce as of June 19 [9][10] - Domestic gold prices also experienced slight declines, with the Shanghai gold futures dropping by 0.49% [10] - Citibank's latest analysis predicts that gold prices will peak in the third quarter of this year and gradually decline to a range of 2500-2700 USD per ounce by the second half of next year, influenced by various economic factors [12]

Group 1: Market Dynamics and Trading Logic - In 2025, gold is positioned as a traditional safe-haven asset, with its price fluctuations intricately linked to the US dollar index, inflation expectations, and international geopolitical situations [1] - Velos Markets utilizes technology and strategic tools to help investors identify opportunities amidst uncertainty, particularly during shifts in Federal Reserve monetary policy [1] Group 2: Core Advantages of Velos Markets - Velos Markets offers over 200 financial products, including gold spot trading, forex, and index CFDs, creating a diversified "hedging pool" [2] - The platform supports T+0 trading and flexible leverage adjustments, catering to various risk appetites, with short-term traders able to leverage up to 5 times [2] Group 3: Risk Control System - The platform employs a three-tier risk control architecture, including real-time monitoring of abnormal fluctuations, customizable stop-loss tools, and direct connections to global liquidity providers to avoid "slippage" [5] Group 4: Strategy Optimization - Velos Markets provides tools for cross-market arbitrage, allowing investors to capitalize on price discrepancies between New York and London gold markets [6] - The platform's "event calendar" and volatility index (GVZ) analysis tools assist users in predicting price movements during geopolitical tensions or major economic data releases [7] Group 5: Investment Guidance - For novice investors, Velos Markets suggests a combination of "smart dollar-cost averaging" and grid trading strategies to manage risk [9] - Advanced users can utilize the platform's API to develop personalized trading models, achieving a significant annualized Sharpe ratio of 2.3 through multi-factor analysis [10] Group 6: Global Gold Allocation Logic - Velos Markets integrates macroeconomic data from 15 major economies, allowing investors to assess long-term price support levels based on central bank gold purchasing trends [11] Group 7: Operational Model - The operational core of Velos Markets is a "dual-driven" model, connecting with top liquidity providers to ensure order execution speeds below 50 milliseconds [13] - The platform fosters a "strategy workshop" community for users to share validated strategy templates, enhancing trading efficiency and lowering strategy development barriers [13]

Core Viewpoint - Luoyang Molybdenum announced a cash acquisition of Lumina Gold for approximately CAD 581 million, reflecting a strategic move into the gold sector amid rising gold prices and a favorable market outlook for gold as a safe-haven asset [1][5][6]. Group 1: Acquisition Details - The acquisition price translates to approximately RMB 304 million, with a per-share price of CAD 1.27, representing a 41% premium over Lumina's closing price on April 17 [1][6]. - Luoyang Molybdenum has signed a subscription agreement for USD 20 million in convertible bonds to support the ongoing operations of the Cangrejos gold project [6]. - The Cangrejos project, located in Ecuador, has a resource estimate of 1.376 billion tons with an average gold grade of 0.46 g/t, containing 638 tons of gold [5][6]. Group 2: Financial Performance - Lumina Gold has reported significant net losses in recent years, with a net loss of approximately USD 33.14 million for the first three quarters of 2024, and cumulative losses of USD 7.97 million in 2020, USD 7.92 million in 2021, USD 22.24 million in 2022, and USD 17.25 million in 2023 [7]. - Luoyang Molybdenum's revenue for 2024 is projected at RMB 213.03 billion, a year-on-year increase of 14.37%, with a net profit of RMB 13.53 billion, up 64.03% [7]. Group 3: Market Context - The gold market has seen a significant rise, with COMEX gold futures surpassing USD 3,500 per ounce, reaching a peak of USD 3,509.9 per ounce on April 22 [8]. - The company expresses optimism regarding the future of the gold market, viewing it as a key area for growth and investment [5][6].