今年最热门交易遭遇"寒流"。 周三，国际金价进一步下挫，因市场对贸易协议的乐观情绪日益高涨，这很大程度上缓解了更深层次经济的担 忧，抵消了提振避险需求的因素。纽约商品交易所3个月期金时隔一个月再次失守3200美元关口。 截至收盘，金价已从上个月的3500美元高点下跌了9%。 中国4月黄金交易热潮 世界黄金协会14日更新报告显示，4月全球实物黄金ETF强势流入约110亿美元，在金价上涨和基金持续流入的 双重推动下，全球黄金ETF资产管理总规模4月末达3790亿美元。亚洲地区4月大幅流入约73亿美元，流入创新 高，为历年之最。中国市场作为主要驱动力，不仅连续第三个月实现流入，更是刷新了该区域的单月流入量纪 录。 报告称，4月中国黄金ETF增加了490亿元人民币，是有史以来最强劲的月份。总资产管理规模（AUM）和持仓 量均飙升峰值。但值得注意的是，5月初流入量有所放缓。 在高涨的需求推动下，上月上海黄金交易所实物交割153吨黄金，同比增长27%。批发黄金需求的改善也反映在 黄金价格溢价的上升上，4月份的平均溢价为37美元/盎司，远高于3月份的2美元/盎司。 展望未来，世界黄金协会称，劳动节假期后中国黄金首饰的消费量 ...

此次好市多进一步收紧金条购买限制，反映了当前市场对实物黄金的强烈需求，以及零售商在平衡供需、维护公平交易环境和提升会员体验方面所面临的 挑战。未来，好市多可能会根据市场变化和会员反馈，对其黄金销售策略进行进一步的调整。 好市多方面表示，即使在先前已实施限购措施的情况下，其在线平台的金条仍然经常在"短短几小时内"便被抢购一空，可见市场需求的强劲。 除了国际金价持续上涨（上周黄金价格一度攀升至每盎司3400美元以上）这一主要因素外，好市多作为一家享有盛誉且值得信赖的零售商，其品牌效应也 吸引了大量新手投资者加入黄金购买的行列。一些评论甚至将好市多视为黄金投资的"入门级"平台。 在社交媒体平台Reddit上的"好市多贵金属"论坛中，一些用户对好市多加强黄金交易限制的举措表示赞同。他们认为，更严格的限购能够有效防止自动化 程序（机器人）在短时间内将库存一扫而空，从而让更多普通会员有机会购买到金条。也有其他用户指出，黄金交易对好市多而言可能并非主要的利润来 源，其更重要的作用在于吸引和奖励会员。因此，采取措施让更多会员能够购买到热门的金条产品，也是一项合理的会员服务策略。 美国好市多的金条太受欢迎，让该公司不得不祭出更 ...

Core Viewpoint - Recent global risk aversion has decreased, leading to significant fluctuations in international gold prices, with key resistance at $3250 per ounce and a drop below $3230 per ounce observed [1][2]. Market Trends - On May 14, the London spot gold price fell to below $3230 per ounce, reaching a low of $3221.45 per ounce, while COMEX gold futures also dropped below $3230 per ounce [2]. - Domestic jewelry gold prices have also declined, with prices for gold jewelry falling below 1000 yuan per gram, specifically to 992 yuan per gram for Zhou Shiliu and 980 yuan per gram for Caibai [2]. Investment Flows - In April, global physical gold ETFs saw inflows of $11 billion, with Asia accounting for 65% of the total inflow, primarily driven by the Chinese market, which saw inflows surpassing the total for the first quarter of 2025 [3]. Trading Activity - April recorded an average daily trading volume of $441 billion in gold markets, a 48% increase month-on-month, with the London Bullion Market Association (LBMA) seeing a 31% increase in off-exchange trading volume [4]. - As of the end of April, net long positions in COMEX gold futures decreased by 30% to 566 tons, with fund managers' net long positions dropping to 360 tons, a 35% decline from the average level in 2024 [4]. Short-term Outlook - Market sentiment is cautious regarding short-term gold price movements, with expectations of a potential adjustment as the U.S. Federal Reserve maintains a hawkish stance [4]. - Analysts predict that while short-term pressures exist, the risk of U.S. economic recession may lead to a shift towards looser monetary policy in the second half of the year, supporting a medium-term upward trend in gold prices [4][5]. Long-term Projections - Institutions remain optimistic about the long-term outlook for gold prices, with Goldman Sachs maintaining a year-end target of $3700 per ounce and predictions from other analysts suggesting potential increases to $4000 per ounce [5]. - Factors such as declining confidence in U.S. assets, concerns over economic recession, and ongoing geopolitical tensions are expected to support gold prices in the long run [5].

Core Viewpoint - International gold prices have been rising significantly since 2025, reaching historical highs, but have recently started to decline, raising questions about future investment strategies in gold [1][2]. Group 1: Gold Price Trends - As of May 14, 2025, international gold prices have shown a strong upward trend, with prices reaching $3,392.25 per ounce on May 7 and $3,235.40 per ounce on May 12, marking a 23.52% increase in SHFE gold prices since the beginning of the year [1]. - Global central bank net gold purchases increased by 18% year-on-year in the first quarter of 2025, with emerging markets contributing over 70%, indicating the growing importance of gold as a reserve asset [1]. Group 2: Investment Strategies - Ordinary investors are advised to be cautious with leverage and to consider investing 10%-30% of their total assets in gold through a systematic investment approach [2]. - Investment in gold carries risks due to price volatility influenced by various factors, and investors should align their strategies with their experience, capacity, and risk tolerance [2]. Group 3: Types of Gold Investments - There is no clear advantage between investing in physical gold (like coins and bars) and virtual gold (like ETFs and account gold); the choice depends on individual suitability [3]. - Physical gold is suitable for wealthy investors looking for long-term holdings, while virtual gold offers lower investment thresholds and better liquidity, appealing to short-term traders [3]. Group 4: Gold-Related Stocks Performance - As of May 14, 2025, several gold-related stocks have seen significant gains, with Chifeng Jilong Gold Mining Co. up 68.67%, Chaohongji up 63.68%, Hunan Gold up 43.87%, Western Gold up 39.30%, and Pengxin Resources up 35.56%, with many other stocks also exceeding 20% gains [3].

继5月12日开始国际金价高位"大跳水"之后，5月14日，国际金价延续跌势。现货黄金一度跌穿3230美 元/盎司，截至记者发稿时报3233.49美元/盎司，日内跌0.5%；COMEX黄金期货主力最新报3231.7美元/ 盎司，日内跌0.51%。 这意味着，当前国际金价与4月22日创下的3509.9美元/盎司的历史高点相比，每盎司下跌270多美元， 跌幅近8%。 国际金价"跌跌不休" 此轮"跌跌不休"始于5月12日。该日国际金价高位跳水，COMEX黄金盘中一度跌至3211.2美元/盎司；截 至当日收盘，COMEX黄金跌3.06%，报3241.80美元/盎司。现货黄金一度跌破3210美元/盎司关口，单日 跌幅扩大至3.4%。截至当日收盘，现货黄金交投于3234.88美元/盎司附近，下跌近3%。 受此影响，国内多家金店的每克足金饰品也纷纷来到千元以下，回到"9字头"。 记者走访几大品牌金店获悉，周大福5月14日足金饰品992元/克；周大生足金饰品992元/克；菜百足金 饰品978元/克；潮宏基足金饰品992元/克，老庙足金饰品987元/克。而就在前日，这些品牌金店足金饰 品价格均为每克千元以上，如今每克已经跌去十几元 ...

Core Viewpoint - The gold stock ETF market is experiencing a fee reduction trend as competition intensifies, with Huaxia Fund leading the charge by lowering management and custody fees to attract investors [1][2]. Fee Reduction Details - Huaxia Fund announced a reduction in management fees from 0.50% to 0.15% and custody fees from 0.10% to 0.05% for its gold stock ETF and its linked fund, effective from May 15 [2][4]. - The comprehensive management fee for the gold stock ETF has decreased from 0.6% to 0.2%, aligning with the lowest fee rates in the current ETF market [2][4]. Market Performance - As of May 13, the total scale of six gold stock ETFs reached 4.762 billion, marking a 119.9% increase compared to the end of the previous year [1][5]. - The largest gold stock ETF, Yongying, has a scale of 3.858 billion, while Huaxia's gold stock ETF follows with 560 million [5]. Index Performance - The index tracked by the gold stock ETF has seen a year-to-date increase of 27.42%, reflecting strong performance in the gold mining sector [7][9]. - The index comprises 50 large-cap companies involved in gold mining, refining, and sales, with gold mining stocks accounting for over 80% of the index weight [7][8]. Industry Trends - The trend of fee reductions is not limited to gold stock ETFs; multiple ETFs across various categories, including equity and bond ETFs, have also announced fee cuts this year [10][11]. - The regulatory environment encourages lower financial service costs, prompting fund companies to respond to investor sensitivity towards fees, especially in volatile markets [11].

Core Viewpoint - The article discusses the historical significance and investment potential of gold, emphasizing its unique properties that make it an ideal currency and investment asset. It highlights the factors driving gold prices and the various investment channels available for investors. Group 1: Drivers of Gold Price Increase - Over the long term, gold prices have risen from approximately $35 per ounce in the 1970s to $3,250 currently, an increase of nearly 100 times. Key events contributing to this rise include the decoupling of the dollar from gold in 1971, leading to a decade-long price increase, and the 2008 financial crisis, which prompted investors to buy gold as a hedge against currency devaluation and political instability [3]. - Central banks globally have increased their gold holdings to mitigate international risks, with the People's Bank of China adding 62.21 tons, 224.88 tons, 44.17 tons, and 12.75 tons of gold from 2022 to 2025 (as of March 2025) [3]. - National policies, such as the Financial Regulatory Administration's notice in February 2025 allowing insurance funds to invest in gold, have also supported the long-term development of the gold market [4]. Group 2: Investment Channels for Gold - Gold is a crucial component for long-term asset allocation, with various investment channels available. Traditional methods include purchasing physical gold, which offers psychological security but incurs high storage costs and transaction complexities [10]. - Alternatives like "paper gold" (RMB account gold) allow investors to hold electronic certificates without the risks associated with physical storage. Gold ETFs provide another non-physical investment option, tracking gold prices through holding spot or futures contracts [10]. - Other investment options include gold trading contracts (gold TD), futures, and options, which carry higher risks and are more suitable for short-term trading rather than long-term investment [11]. Group 3: Long-term Investment Perspective on Gold - Gold's low correlation with stocks and bonds, along with its strong long-term inflation-hedging capabilities, makes it a valuable tool for constructing diversified investment portfolios and reducing volatility [12]. - Historical trends show that gold can experience prolonged cycles of price increases and decreases, exemplified by its peak in 1980 and subsequent decline until 2001. This characteristic underscores gold's suitability for long-term asset allocation [12].

连日来，黄金价格持续下跌成为热门话题，不少囤金的买家大喊"亏了"。除了在各大银行购买实物金条的买家外，法拍平台上的金条也是"囤 金"人关注的重要渠道。近日，阿里法拍平台上成交了多笔法拍黄金，每个订单都有数十人报名竞拍，最多的一个订单有141人报名，经过激烈的 竞拍，法拍金条的成交克均价格竟然高过同日银行金条的单价，业内人士指出，法拍金条参考价并非饰金价格，司法竞拍切莫"上头"。 1千克金条拍出83.947万元 司法拍卖金条成交价高于当日银行金价 五月份阿里法拍平台上出现多笔黄金订单，引起网友的关注，截至5月14日，这些法拍黄金均被买家买走。 5月4日，贵州省六盘水市中级人民法院开拍了两块共400克金条，起拍价25.36万元，评估价28.18万元，最终有44人报名，经过44轮竞拍，最终的 成交价格为31.96万元，每克的价格为799元，而当日中国银行金条价格为784.05元每克。 | 状态 | 竞买号 | 价格 | 时间 | | --- | --- | --- | --- | | 成交 | D1578 | 839,472 | 2025年05月10日 09:33:57 | | 出昌 | X0638 | 834,4 ...

5月12日，"金价下跌"相关话题冲上微博热搜，今年以来不断上扬的黄金价格在近日迎来了"急刹车"。以COMEX黄金期货价格为例，继4月22日触及历 史高点后，5月13日，COMEX黄金期货价格报3254.1美元/盎司，跌幅超过7.2%。不少网友发帖表示自己"亏麻了"，求支招, 浙商实时金价(元/克) 交易中 761.64 +1.78 +0.23% 亏到心塞 从4月22号 的+7000多,到现在 … n 5 E12 E 77 25 35 E 158! 星死, EFFS AT, E HE SID T FRICH HOSE | 5月12日一觉醒来黄 | | --- | | 金758! 晕死,直接 … - 100 | | 持仓价值 | | --- | | 33.021.44 | 累计收益 +348.41 (呂) 工行积存金 持含价值 6,961.72 持仓收益 累计收益 -38.14 0.00 179.4784 = 136,280.98元 持仓收益(元) 1 累计收益(元) -7.402.32 +2,672.38 > 浙商积存金 S 民生积存金 持仓收益 = 持仓价值 --------- 累计收益 都是 Aller ? ...

Core Insights - The global financial market in 2025 is experiencing unprecedented volatility due to fluctuating Federal Reserve monetary policies, escalating US-China trade tensions, geopolitical conflicts, and persistent inflation pressures [1] - Gold has emerged as a safe haven asset, driven by heightened investor risk aversion and significant price fluctuations influenced by US non-farm payroll data and Federal Reserve policy signals [1][3] Market Characteristics - The US non-farm employment data has become a key catalyst for gold price movements, with March 2025 data causing a single-day price fluctuation exceeding 4%, creating excellent short-term trading opportunities [1] - From April 9 to May 9, 2025, the spot gold price fluctuated within a range of $400 per ounce, with a maximum single-day increase of 3.5%, indicating a highly volatile market environment conducive to short-term trading strategies [3] Trading Platform Features - The trading platform WanZhou Gold Industry offers a dual protection mechanism of negative balance protection and two-way trading, addressing current investor needs by preventing account depletion risks during extreme market conditions [3][5] - The platform employs the advanced MT5 trading system for millisecond order execution and SSL encryption technology to mitigate slippage, enhancing the trading experience [5] - WanZhou Gold Industry provides up to $200,000 in simulated funds for novice investors to practice trading strategies in a risk-free environment [5] Cost and Security Measures - The platform implements a "high rebate + low cost" strategy to lower investment barriers, offering new customers up to $30,000 in bonuses and VIP spreads as low as $20 per lot, along with a zero-commission policy [5] - Strict fund segregation policies ensure that client funds are stored separately in reputable international banks, with transactions monitored for regulatory compliance and transparency [5][6] Future Outlook - As the Federal Reserve enters a critical adjustment phase, gold market volatility may increase, making it essential for investors to choose compliant and technologically advanced trading platforms to capitalize on market opportunities [6] - The 2025 gold market presents both challenges and rich investment opportunities, where flexible use of two-way trading mechanisms and stringent risk management can transform market volatility into wealth growth opportunities [6]