Group 1 - The global gold market has shown strong performance since 2025, with prices reaching new highs and maintaining high volatility, with London gold prices fluctuating around $2,600 per ounce at the beginning of the year and surpassing $3,000 in mid-March, potentially reaching $3,700 by the end of 2025 according to institutions like Goldman Sachs [2] - Gold ETFs have become a core tool for investors to enter the gold market due to their T+0 trading capability and low entry barriers, with several domestic gold ETFs ranking among the top ten globally in net inflows since 2025 [2] - The main gold ETFs in the A-share market have achieved an average return of approximately 24% since the beginning of 2025, with the lowest holding cost being 0.15% for the Huaxia Gold ETF [3][4] Group 2 - The Huaxia Gold ETF's scale has rapidly increased, reaching 44.87 billion yuan by May 28, 2025, a growth of 211.86% from the end of 2024 [4] - Institutional investors have significantly increased their holdings in the Huaxia Gold ETF, with their share rising from 0.33 billion units in June 2022 to 1.96 billion units by the end of 2024, maintaining an 80% share of total holdings [6] - The number of individual investors in the Huaxia Gold ETF has also grown, with the number of fund holders increasing from 735 in mid-2022 to 4,390 by the end of 2024 [7] Group 3 - Gold industry stock ETFs have outperformed gold ETFs this year, with most gold industry ETFs achieving returns exceeding 30%, while the Shanghai Composite Index and Shenzhen Composite Index have only seen returns of 0.34% and 1.81%, respectively [8] - The Huaxia Gold Stock ETF has the lowest management and custody fees in the market at 0.15% and 0.05%, respectively, and has achieved a return of 32.31% this year, ranking first among similar funds [8][12] - The Huaxia Gold Stock ETF has a cumulative return of 53.94% since its establishment, outperforming its benchmark by 8.62% [10]

Group 1 - The core viewpoint of the article highlights the recent fluctuations in gold prices, which have seen a moderate correction after reaching a peak in mid-April 2025, driven by easing U.S. interest rate expectations and stabilizing global inflation pressures [1][5][9] - The gold jewelry market is experiencing a new consumption turning point, as gold jewelry is increasingly viewed as both an investment and an aesthetic product, with rising purchase enthusiasm among consumers [1][5][11] - The "Fuman Chuanjia" series launched by Luk Fook Jewelry, inspired by Song Dynasty aesthetics, aligns with the current market dynamics, catering to both rational investment needs and cultural appreciation [5][11][21] Group 2 - The recent price adjustments in gold present a favorable buying opportunity, as the market sentiment shifts from investment-driven purchases to a focus on aesthetic and cultural values among younger consumers [7][9][16] - The collaboration with global ambassador Cheng Yi has significantly boosted Luk Fook Jewelry's brand visibility and sales, particularly during cultural events like the 520 festival [12][15] - The "Fuman Chuanjia" series incorporates classic Song Dynasty elements and modern design, appealing to consumers' desires for high-quality, unique jewelry that reflects cultural heritage [18][19][21]

市场风险情绪提振，金价短期承压 当地时间5月28日，位于纽约的美国国际贸易法院裁定特朗普政府一揽子关税政策非法，对市场风险偏好形成 影响。29日，现货黄金价格跌破3300美元/盎司，A股黄金股普遍下跌。 事实上，年内金价走势已呈现波动加剧的态势。多位业内人士指出，近期全球贸易关系缓和、地缘冲突降温， 以及部分获利了结资金离场，是导致金价调整的主要原因。不过，尽管金价短期承压，黄金的长期配置价值依 然受到关注。业内普遍建议投资者理性看待短期波动，审慎调整持仓结构，把握阶段性调整中的潜在布局机 会。 当地时间5月28日消息，位于纽约的美国国际贸易法院裁定特朗普政府一揽子关税政策非法，提振了市场的风 险情绪。29日，作为避险资产的黄金遭遇抛售，现货黄金价格跌破3300美元/盎司，黄金股普遍下跌。券商中 国记者注意到，截至A股收盘，西部黄金跌2.9%，中金黄金跌1.98%，湖南黄金跌1.83%。 今年以来，金价走势可谓一波三折——先是一路高歌猛进，多次刷新历史高位，随后进入震荡调整阶段。金价 的反复震荡令不少投资者陷入观望和纠结。 博时基金分析称，近期导致金价显著调整的主要因素有三： 随着全球市场风险情绪回暖，作为避 ...

美国东部时间5月28日，美联储公布联邦公开市场委员会(FOMC)5月6日至7日的会议纪要。会议纪要显 示，美联储同意将联邦基金利率目标区间维持在4.25%-4.5%之间。在考虑货币政策前景时，与会者一致 认为，美国经济前景的不确定性进一步增加，在美国政府的一系列政策变化对经济的影响变得更加清晰 之前，采取谨慎的态度是恰当的。委员会完全有能力等待通胀和经济活动前景的进一步明朗。未来货币 政策将受到经济数据、经济前景和风险平衡的影响。 巴克莱研究团队维持对FOMC今年降息一次25个基点的预测，预计在12月进行，以应对关税导致的经济 增长放缓以及通胀上升。同时，其预计FOMC将在2026年三次降息，到2026年年底将政策利率置于其认 为略显紧缩的水平。 短期面临3350美元技术阻力 ● 本报记者葛瑶 5月29日，国际黄金市场遭遇显著回调。伦敦金现货价格盘中一度下探至3245.19美元/盎司，创本周以 来新低，COMEX黄金期货价格亦同步回落。受此影响，国内黄金ETF普遍下跌，黄金概念股领跌两 市。 机构认为，金价在创历史新高后交易分歧加剧，短期过热情绪有所缓解。美联储最新会议纪要释放维持 利率不变的信号，令市场避险 ...

Core Viewpoint - The article highlights the risks associated with Zhejiang Yongkun Gold Jewelry Co., which has attracted numerous investors through high-yield promises but is now facing significant issues with fund redemption and potential legal consequences [2][16][22]. Group 1: Investment Model and Promises - Yongkun Gold has marketed its products with promises of annual returns between 5% and 9% through gold storage and repurchase contracts [2][3]. - The company has created a tiered customer classification system, offering higher returns for larger investments, with "black gold" clients (over 3 million yuan) receiving up to 9% annualized returns [4][6]. - The online platform offers a "pre-ordered gold bar" product that appears to guarantee returns, allowing customers to either redeem at the current gold price or get a refund if prices drop [9][11]. Group 2: Redemption Issues and Legal Actions - Investors have reported difficulties in redeeming their investments, with some unable to withdraw funds after the promised T+3 period [1][2]. - Legal actions have begun, with investors filing reports with law enforcement as the company faces allegations of fraud and illegal fundraising [2][14]. - The total amount of unredeemed investments may exceed 300 million yuan, indicating a widespread issue among investors across multiple provinces [14][20]. Group 3: Regulatory Concerns - Yongkun Gold lacks the necessary qualifications to operate as a financial institution, raising concerns about its gold asset management practices [16][18]. - The company's operations may be classified as illegal public fundraising, as they do not comply with financial regulatory requirements for managing gold assets [18][22]. - The fluctuating gold prices pose additional risks to the company's business model, which relies on stable returns to investors [19][20].

根据上海黄金交易所数据显示，5月28日国内主要金饰品牌零售价普遍回落至千元关口。老庙黄金、周六福、老凤祥等品牌的足金价格较前一日跌幅达9-16 元/克，周生生金饰价格单日跌幅2.3%。这种剧烈调整直接导致4月以来高位入场的投资者普遍面临亏损。投资者李成的案例显示，其在金价创新高时以840 元/克购入的积存金产品，当前账面亏损已超过15%。此类现象暴露出投资者在市场狂热期对风险认知的严重不足。 国际金价自2025年5月中旬以来呈现剧烈波动，现货黄金价格在两周内连续跌破每盎司3500、3400美元整数关口，最终在3300美元区间持续震荡。这种过山 车式行情导致大量投资者陷入被动局面，其中新手投资者李默微投入40万元购买的积存金产品，在半个月内由盈利5万元转为亏损3万元，成为本轮黄金投资 风险的典型样本。 本轮金价剧烈波动源于多重因素的交织作用。中国（香港）金融衍生品投资研究院院长王红英指出，全球关税谈判取得突破性进展削弱了黄金的避险属性， 而美联储货币政策预期反复、美债收益率波动加剧了市场的不确定性。花旗银行研报显示，全球前20大经济体关税加权平均税率下降0.8个百分点，直接导 致避险资金流出贵金属市场。与此同时 ...

1、 《2025年全球黄金消费洞察 》 摘 要 ■ 2024年全球黄金消费同比增长1.4%，虽然整体增速温和，但结构性变化显著——亚太地区需求增 长尤为突出，反映出新兴市场居民财富积累及资产配置意识提升。 ■ 在全球经济增长不确定性加剧、通胀压力不减的背景下，黄金的避险属性被广泛认同，央行增持和 个人投资同步加码，进一步推高了投资需求。 ■ 尤其是在美元资产风险上升、全球货币体系去美元化趋势增强的背景下，黄金已不仅是传统意义上 的保值资产，更逐步被视为一种"全球储备资产替代品"，其战略配置意义持续上升。 ■ 黄金市场的供给面保持稳定，2024年全球黄金储采比达19.4年，说明矿产资源依然充足，不存在近 中期枯竭风险。 ■ 全年矿产金产量为3,661吨，年增2%，但价格与产量之间的相关性较低，表明供给端对市场价格的 影响相对温和。 ■ 金价上涨空间虽存在，但短期内仍需关注美联储政策变化、地缘风险及工业用金需求的不确定性， 特别是若特朗普重新执政，其贸易政策可能对制造业链条形成压制，从而间接影响工业金的边际需 求。 ■ 投资者应结合自身风险偏好，灵活配置黄金ETF、期货等衍生品以把握波段机会，同时长期可关注 优质 ...

Core Viewpoint - The gold market is currently in a state of stagnation, raising questions about the next trend opportunity and whether bulls can break through the 3325 level [1] Group 1 - The gold market is experiencing a period of volatility, with uncertainty surrounding future price movements [1] - Analysts are actively discussing strategies for positioning in the gold market amid this indecision [1] - The focus is on whether bullish sentiment can push gold prices above the critical level of 3325 [1]

（原标题：英华号周播报|中国4月黄金进口猛增73%！黄金概念基金怎么选？） # " 当期热文 NO.1 华安基金 华安基金2025黄金投资高端峰会：把握新周期下的黄金投资机遇 NO.2 九泰基金 表姐说理财丨黄金概念基金怎么选？ NO.3 前海联合基金 【一周市场述评】成长+红利"哑铃型配置"的主线行情有望持续 （点击文章标题跳转原文，下同） # " 热转好文 NO.1 兴业银行 NO.3： 中国基金报 #FUND思享汇# 余承东：普通人和优秀的人，最大的差异是自控力 # " 热门直播 每日"兴"观点丨中国4月黄金进口猛增73%！ NO.2 相聚资本 低风险高回报，可能吗？ NO.3 华夏基金 定期存款利率"1"时代，信用债ETF的配置价值再思考 # " 趣投教 NO.2： 兴业基金 兴业基金权益投资部总经理邹慧：中国企业出海的优势非常明显 NO.1： 中国基金报 #基民来了# 闪闪发光的科技投资，普通人如何做得好？ NO.2： 鹏华基金 鹏华基本面投资大学堂·第七期第十一讲 | 全球变局下的高端制造突围战 NO.3： 深圳证券交易所 百川汇流·并购重组焕新机 ——深市公司2024年度集体业绩说明会 王贵重 ...

Market Overview - The international spot gold price experienced fluctuations, opening below $3330 per ounce with a decline of 1.2% due to Trump's announcement to delay a 50% tariff on the EU, which briefly improved market risk sentiment [1] - However, during the US trading session, gold prices rebounded due to escalating geopolitical tensions and a decline in the US dollar index, closing at $3342.23 per ounce, with a daily decline narrowed to 0.5% [1] Current Market Dynamics - The gold market is characterized by a "tug-of-war" between bullish and bearish sentiments driven by policy uncertainties, such as Trump's sanctions on Russia and delays in US-EU trade negotiations, which alternate between safe-haven demand and risk sentiment [3] - Geopolitical risks, including controversies over uranium enrichment in the Middle East and the spillover risks from the Russia-Ukraine conflict, provide long-term support for gold prices [4] - The US dollar index fell to a four-week low of 99.69, but hawkish signals from Federal Reserve officials have intensified policy expectation divergences [5] Investment Strategy - In a complex market environment, gold investment should balance short-term volatility with long-term value [6] - Gold trading platforms like Jinrong China offer low entry barriers and flexible trading mechanisms, allowing for micro-contract trading with a minimum deposit of $70, suitable for beginners to test high-low strategies in a volatile market [6][7] - Risk management tools are available to ensure trading safety, including negative balance protection and real-time stop-loss and take-profit features [8][9] - Data and educational resources are provided to empower decision-making, including economic calendars and market analysis to help investors anticipate price fluctuations [10][11] Platform Value - Jinrong China's core advantages include compliance guarantees, with client funds independently held by third-party banks, and a stable technology infrastructure that ensures rapid order execution even during market volatility [14] - The platform offers transparency and cost control, with zero commissions and spreads as low as $0.2 per ounce, significantly reducing trading costs for frequent transactions [14] Conclusion - The recent fluctuations in gold prices highlight the need for investors to balance risks and opportunities in gold investment [18] - The choice of trading platform is crucial for investment success, emphasizing the importance of reliable technology and adaptable services in navigating the gold investment landscape [18]