Core Viewpoint - The rise in international gold prices has led to an increase in domestic gold jewelry prices, with several brands adjusting their prices accordingly [1] Price Changes - Chow Sang Sang's gold jewelry price has surpassed 1090 CNY per gram, currently reported at 1091 CNY per gram, reflecting a significant increase of 17 CNY per gram from the previous day [1] - Both Chow Tai Fook and Luk Fook Jewelry have also raised their gold jewelry prices to 1087 CNY per gram [1]

北京商报讯（记者 宋亦桐）黄金延续上行态势，再创历史新高，9月16日，现货黄金盘中冲上3689.41美 元/盎司，最新现报3679.56美元/盎司。 ...

华西证券此前指出，长期看，全球货币与债务担忧，使得黄金受益于债务和货币宽松的交易方向，"大 而美"法案的通过预计提高美国3.4万亿美元财政赤字，全球多国财政赤字处于高位，国债利率上涨，看 好未来黄金价格，受益于金价上涨，黄金资源股盈利预期增强，目前黄金股估值处于较低水平，关注黄 金股配置机会。 消息面上，9月15日，COMEX黄金突破3700美元/盎司，再创新高，年内累计上涨超40%。据悉，摩根 大通上调对金价的价格预测，在即将到来的美联储降息周期和由此引燃的强劲投资者需求的双重推动 下，预计现货金价将在2026年第一季度突破4000美元/盎司大关。同时，若美联储独立性受到冲击，投 资者的资金轮动可能在两个季度内将金价推至5000美元高位。 智通财经APP获悉，黄金股延续近期涨势，截至发稿，山东黄金(01787)涨3.65%，报36.34港元；中国白 银集团(00815)涨2%，报0.51港元；招金矿业(01818)涨1.95%，报30.3港元；赤峰黄金(06693)涨1.16%， 报31.4港元。 ...

每经AI快讯，9月15日，现货黄金涨0.85%，报3674.11美元/盎司，续创历史新高。 ...

现货黄金涨0.85%，报3674.11美元/盎司，续创历史新高。 ...

Core Insights - Spot gold prices reached $3,660 per ounce, marking a daily increase of 0.47% [1] Group 1 - The upward movement in spot gold prices indicates a positive trend in the precious metals market [1]

Core Viewpoint - Recent rumors about multiple gold merchants in Shui Bei going bankrupt and fleeing have been found to be exaggerated and untrue, with many businesses still operating normally [1] Group 1: Market Situation - As of September 15, 2023, the price of gold in London reached $3645 per ounce, marking a year-to-date increase of 38% [1][2] - The price of gold in Shui Bei was reported at 831.5 RMB per gram, with many brand gold jewelry prices above 1070 RMB per gram [4] Group 2: Industry Insights - Shui Bei is recognized as the largest and most developed gold and jewelry cluster in China, housing nearly 7,000 gold and jewelry enterprises and generating over 120 billion RMB in revenue [8] - The area attracts an average daily foot traffic of over 100,000 visitors, with live-streaming e-commerce sales exceeding 400 million RMB annually [8] Group 3: Consumer Behavior - Despite high gold prices, there remains significant demand for wedding gold jewelry, which is considered a necessity [6]

Core Insights - The precious metal has experienced a 39% price increase this year, indicating a significant upward trend in its value [1] Price Performance - The current price jump positions the precious metal for a greater annual price increase compared to the increases seen during the Covid pandemic and the 2007-09 recession [1]

Group 1 - International gold prices are currently challenging the $3700 per ounce mark after a period of consolidation around $3400, driven by weak U.S. employment indicators and increased likelihood of interest rate cuts by the Federal Reserve [1] - The significant rise in gold prices in 2025, with an increase of approximately 30% in less than nine months, is attributed to geopolitical tensions in Eastern Europe and the Middle East, as well as concerns over the future of the U.S. dollar due to trade wars and Federal Reserve policies [2] - The rise in gold prices is expected to have a limited impact on industrial production but may suppress jewelry consumption, particularly affecting businesses that produce and sell gold jewelry [2] Group 2 - Mining companies with substantial gold reserves and favorable production conditions are likely to benefit from rising gold prices, which also positively influences silver and other precious metals [3] - The ongoing increase in gold prices is shifting investor behavior, with a notable rise in sales of physical gold products like gold bars, while jewelry consumption declines, indicating a preference for gold as a safe-haven investment [3] - The limited capacity of domestic gold investment avenues, such as the 20 available gold ETFs with a total net value of around 155 billion yuan, suggests that there is potential for growth in gold investment options, which could influence market dynamics [4]

Core Viewpoint - Gold stocks continue to rise, driven by increasing expectations of interest rate cuts following the release of the US CPI data, which showed a year-on-year increase of 2.9% and a month-on-month increase of 0.4% [2] Company Performance - Lingbao Gold (03330) rose by 8.19%, trading at HKD 18.37 [2] - Tongguan Gold (00340) increased by 4.98%, trading at HKD 2.32 [2] - China Gold International (600916) (02099) saw a rise of 3.6%, trading at HKD 138.1 [2] - Zhaojin Mining (01818) increased by 3.27%, trading at HKD 29.7 [2] Market Trends - The international spot gold price has risen by 40% year-to-date, reflecting strong demand and market confidence [2] - Goldman Sachs has raised its long-term gold price forecast for 2029 and beyond to USD 3,300 per ounce, up from the previous forecast of USD 2,850 per ounce [2] - Goldman Sachs anticipates that gold prices could reach USD 4,000 per ounce by mid-2026, with extreme scenarios potentially pushing prices close to USD 5,000 [2]