张尧浠：金价将上涨到你不敢想象的高度4000元/克、17000美元/盎司 种种因素和迹象都显示金价还有上涨空间，或者是还有一波牛市行情，国际黄金到达5000美元/盎司，国内大盘金价将到达1200元/克，都不在话下，更高的 位置将会涨到你不敢想象的高点，最终将创造出史诗级涨幅。当然这不是张口就来，随口一说的，我先来说说我的观点，欢迎补充和交流； 首先就是跟金价中长期趋势相反的美元； 以及在全球货币超发的情况下，黄金产量低，开采总量已定，开采成本高等等因素，已让黄金数据不足，并都将反应到黄金上面来。因为不是黄金值钱了， 是钱不值钱了，货币贬值了。全球央行最近几年不停的买入黄金已是强有力的证据。 同时，金价目前的上涨也只是自身价值的恢复，其价格仍是严重低估的。 截止2025年已开采的全球黄金总量约21万吨，而全球货币115万亿美元，按照目前的汇率7.3，换算过来，也就是每克4000元人民币，国际金价则是1万7美元/ 盎司，这还不算开采成本等等。 所以，综合而言，无论是哪方面，都是利好金价的，金价也是被严重低估的。未来目标将上涨到你不敢想象的位置。 目前美元指数日图和周图都运行在200周期线下方，代表后市趋势偏弱，前 ...

Investment Rating - The report maintains a "Buy" rating for Zijin Mining [1] Core Views - The company achieved significant growth in Q1 2025, with revenue of 789.3 billion yuan, a year-on-year increase of 5.6% and a quarter-on-quarter increase of 7.8% [3][16] - The net profit attributable to shareholders reached 101.7 billion yuan, up 62.4% year-on-year and 32.2% quarter-on-quarter [3][16] - The company is expected to benefit from the rising prices of copper and gold, with a strong outlook for both commodities [5][38] Summary by Sections Q1 2025 Performance - The company reported a revenue of 789.3 billion yuan, with a net profit of 101.7 billion yuan and a net profit margin of 12.88% [3][16] - The gross profit margin was 22.89%, reflecting a year-on-year increase of 6.28 percentage points [3][16] Production Growth - In Q1 2025, copper production was 288,000 tons, a year-on-year increase of 9.5%, while gold production was 19.1 tons, up 13.4% year-on-year [4][23] - The company is on track to meet its annual production targets for copper and gold, achieving 25% and 22% of the targets respectively in Q1 [4][23] Price and Cost Analysis - The average LME copper price in Q1 2025 was 9,352 USD/ton, a year-on-year increase of 10.8% [5][37] - The average Comex gold price was 2,868 USD/ounce, up 38.5% year-on-year [5][38] - The company maintained low production costs, with significant improvements in gross margins across its key products [6][50] Financial Health - The company's asset-liability ratio decreased to 54.89%, down 3.71 percentage points year-on-year [8][58] - The return on equity (ROE) improved to 7.0%, reflecting a year-on-year increase of 1.60 percentage points [8][58] Profit Forecast and Investment Recommendation - The report forecasts net profits of 390 billion yuan, 430 billion yuan, and 467 billion yuan for 2025, 2026, and 2027 respectively [64] - The company is positioned as a leading player in the global mining industry, with strong growth potential and effective cost control [64]

消费者观望，投资者套现 面对高昂的金价，不少消费者选择推迟购买计划。"原本打算给女儿买嫁妆，但现在这个价格实在太高 了，想再等等看。"一位消费者表示。 与此同时，部分早期购入黄金的投资者则选择在高点抛售。某黄金回收店负责人透露："最近来卖金 条、金饰的人明显增多，很多人是在2022年低价买入的，现在获利了结。" 未来走势如何？专家建议理性投资 近期，国内黄金价格持续攀升，多家珠宝品牌的金饰价格已逼近每克1000元大关，创下历史新高。这一 波金价上涨主要受国际金价走高、市场避险情绪升温以及国内消费需求增加等因素影响。面对高昂的金 价，消费者观望情绪浓厚，部分投资者则选择逢高套现。 多重因素推高金价 此轮金价上涨主要受以下因素影响： 国际金价走高：美联储降息预期增强，美元走弱，推动国际黄金价格突破2400美元/盎司，带动国内金 价跟涨。 避险需求增加：全球经济不确定性加剧，部分投资者转向黄金以规避风险。 国内消费需求旺盛：尽管价格高企，但黄金作为传统保值资产，仍受消费者青睐，尤其在婚庆、节日期 间需求旺盛。 对于金价未来走势，市场观点不一。部分分析师认为，若美联储如期降息，金价可能继续上行；但也有 机构提醒，短期 ...

国内金饰价格跟随国际金价上涨，部分足金饰品价格破千元 金十数据4月12日讯，截至4月12日，周生生足金饰品价格报1002元/克，前一日为991元/克；老庙足金饰品价格为988元/克，前 一日为983元/克；周大福足金（饰品、工艺品类）价格保持在990元/克不变。 @ 来源 日 网 菜百首饰足金999饰品 950 元/克 Black 990 元/克 潮宏基足金(首饰摆件) 990 元/克 金至尊足金999 全年尊 @ JIN10.COM 金十数据 | 一个交易工具 ...

欧元走强、关税担忧和ETF买盘推动金价3月再创新高 金十数据4月8日讯，世界黄金协会报告称，3月份，全球黄金ETF流入86亿美元（合92吨），使第一季 度的总流入量达到210亿美元（合226吨），为有记录以来第二强劲的季度。北美和欧洲以83%的资金流 份额领跑，而亚洲以7%的资金流份额跑赢大盘。金价上涨和强劲的资金流入推动全球资产管理规模达 到创纪录的3450亿美元，一季度增长28%。总持有量增至3445吨，为2023年5月以来的最高水平。财政 和货币支持可能正在消退，考虑到当前的动荡局面，这个时机对风险资产来说并不合适。黄金的基本面 依然稳固。 ...

Group 1: Cheung Kong Holdings Announcement - Cheung Kong Holdings announced that its board is aware of media reports regarding a potential spin-off of its global telecommunications assets and operations [2] - The company is exploring opportunities to enhance long-term shareholder value, including possible transactions related to its global telecommunications business [2][3] - As of the announcement date, no decisions have been made regarding any transactions related to the global telecommunications business [3] Group 2: China National Petroleum Corporation (CNPC) Financial Results - CNPC reported a record net profit of 1646.8 billion yuan for 2024, a 2.0% increase year-on-year, with total revenue reaching 2.9 trillion yuan [7][8] - The company declared a total dividend of approximately 860.2 billion yuan for the year, with a payout ratio of 52.2%, marking the highest level in history [8] - The combined net profit of the "Big Three" oil companies exceeded 352.9 billion yuan, averaging about 9.7 billion yuan per day [9] Group 3: Consumer Loan Rate Adjustments - Several banks have begun to suspend the issuance of consumer loans with interest rates below 3%, effective April 1 [11][12] - The move is part of a strategy to balance market expansion with risk control, as low-interest loans may overlook borrowers' repayment capabilities [12] - The competitive landscape for consumer loans has intensified, prompting banks to focus on attracting high-quality customers [12] Group 4: State-Owned Banks Capital Raising - Four major state-owned banks announced plans to issue A-shares to raise a total of 520 billion yuan for core tier-one capital replenishment [14][15] - The capital raising is seen as a proactive measure to strengthen the banks' capital bases and enhance their ability to serve the real economy [16] - The issuance plans require approval from shareholders, regulatory bodies, and stock exchanges before implementation [16] Group 5: Country Garden Financial Results - Country Garden reported total revenue of approximately 252.8 billion yuan for 2024, with a significant reduction in net loss to about 35.1 billion yuan compared to 178.4 billion yuan in 2023 [23][24] - The company delivered over 380,000 housing units in 2024, covering 31 provinces and 242 cities [24] - Country Garden is currently negotiating debt restructuring plans with creditors [24]

编者按： "现在开金店，不如摆摊"，为及时止损，张雪把经营三年的黄金店关掉了。至 此，她家经营的9家门店，已经关掉了8家。 张雪倒闭的门店刚开业时 图源/受访者提供 张雪家里已经做珠宝生意20多年，父母从最开始的打金店，到现在的品牌专卖店，在线下陆续开了9家金店，加盟了周六福、中国黄金等品牌。她回 忆，在疫情时有门店业绩很差，关闭了几家，余下的门店熬过了疫情，但从2023年下半年开始，业绩大幅下滑，2024年的五一和国庆节，更是经历了 黄金行业20多年来最惨淡的黄金周，"业绩只有往年的四分之一"。张雪说，2024年国庆节后，一整天，店里就入账了200块，房租都付不起。 2024年下半年关到只剩两家门店，地下商场的这家，是近期关的最后一家，现在，张雪手里还只剩一家金店没关。 国内金价上涨，牵动大众的神经，黄金店主却高兴不起来。黄金作为价格越来 越高的商品，消费者持续观望，让销售额大幅下滑，同时，金价上涨又推高了 门店的进货成本，增加金店经营压力。月亏损成为常态，迫于经营压力，近 年，多家品牌黄金店纷纷关闭。 来源｜极速财讯 01 金店一天收入200块，连房租都付不起 金店还能倒闭？面对外界的质疑，黄金加盟店老板 ...