格隆汇11月11日｜摩根大通私人银行表示，黄金的强劲上涨势头可能在明年将价格推高至每盎司5000美 元以上，主要动力来自新兴市场经济体央行的持续买入。该行全球宏观与固定收益策略主管亚历克斯· 沃尔夫指出，黄金价格到2026年底可能达到5200至5300美元，比当前交易水平高出逾25%。全球央行购 金在过去两年成为黄金猛烈上涨的关键驱动力。政策制定者寻求价值储藏和资产多元化，使得金价在今 年10月一度创下4380美元以上的历史新高，尽管近几周有所回落，但今年迄今仍上涨超过50%。沃尔夫 表示，对于许多央行而言，黄金在外汇储备中所占比例仍相对较小，尤其是在新兴市场国家。他补充 道："我们仍然看到他们在增持黄金，尽管由于价格上涨，买入速度可能会有所放缓。" ...

| | F9 不复权 超级叠加 画线 工具 ② » | 伦敦金现 | | SPTAUUSDOZ | | | --- | --- | --- | --- | --- | --- | | | 2024/12/17-2025/11/10(233日)▼ = | | 4104.297 | +103.587 +2.59% | | | 4381.484- | | IDC USD 21:07:21 | | | 1 . + | | | 4370 | | 4104.593 | | | | | | 求 | 4104.297 | | | | | | 总量 | 0 现手 | | 0 | | | | 结算价 | | | 3998.910 | | | | 最高 | 4106.010 最低 | | 3997.198 | | | | 均价 | 振幅 | | 2.72% | | | | 外留 | 0 内盘 | | 0 | | | | 昨年 | 4000.710 昨收 | | 4000.710 | | | | 涨停 | 0.000 跌停 | | 0.000 | | | 4010 | 持仓 | 0 增合 | | 0 | | | | 估结算 | 草草 ...

截至今日晚间发稿，现货黄金向上突破4100美元/盎司，为10月27日以来首次，日内涨超2.6%。 ...

Core Viewpoint - Barrick Gold Corporation has increased its quarterly dividend and expanded its stock buyback program following a record surge in gold prices, despite slightly missing revenue and earnings expectations in Q3. Group 1: Financial Performance - Barrick Gold reported Q3 revenue of $4.15 billion, a year-over-year increase of 23.1%, but fell short of expectations by $210 million [1] - Non-GAAP earnings per share were $0.58, which was $0.03 below expectations [1] - The company generated a record free cash flow of $1.5 billion during the quarter [1] Group 2: Dividend and Buyback - The company raised its quarterly dividend by 25% to $0.125 per share and approved an additional "performance dividend" of $0.05 per share for the past three months [1] - Barrick also announced a new $500 million stock buyback plan, adding to the $1 billion already repurchased this year [1] Group 3: Production and Costs - In Q3, Barrick produced 829,000 ounces of gold, a 4% increase quarter-over-quarter, while copper production met expectations at 55,000 tons [1] - The cost of sales (COS) for gold was $1,562 per ounce, total cash costs (TCC) were $1,137 per ounce, and all-in sustaining costs (AISC) were $1,538 per ounce [1] Group 4: Leadership Focus - Following the sudden departure of former CEO Mark Bristow, interim CEO Mark Hill emphasized the company's focus on operational performance and shareholder value, particularly in its premier gold assets in Nevada and the Dominican Republic [2]

现货黄金向上触及4090美元/盎司，日内涨2.21%。 ...

Group 1 - COMEX gold futures increased by 0.42%, reaching $4007.8 per ounce, with a weekly gain of 0.28% [1] - Spot gold saw an intraday increase of over 1%, reporting $3997.63 per ounce as of 7 AM on November 8 [1] - COMEX silver futures rose by 0.57%, priced at $48.225 per ounce, with a weekly increase of 0.13% [3]

Core Viewpoint - Gold prices continue to rise, with both domestic and international markets showing strength, indicating a positive trend in the gold industry [1] Group 1: Gold Prices - As of November 8, 2025, the price of physical gold from brands like Chow Tai Fook and Chow Sang Sang is 1268 CNY per gram, reflecting an increase of approximately 0.71% [1] - The investment gold bar prices vary among banks, with the Industrial and Commercial Bank of China (ICBC) offering its gold bar at 933.96 CNY per gram [1]

在国际金价持续走高的市场环境下，明牌珠宝的三季报却呈现出业绩背离态势，公司面临盈利能力减弱 与财务结构失衡的双重挑战。 在金价一路攀升的行业背景下，明牌珠宝交出的三季报成绩单令市场感到意外。与其他黄金珠宝企业相 比，公司并未充分享受到金价上涨带来的红利，反而出现营收下滑与净利润亏损并存的局面。这背后， 折射出明牌珠宝在战略转型、成本控制和财务结构等方面面临的深层经营风险。 盈利能力大幅下滑 明牌珠宝三季报最显著的风险信号来自于盈利能力的大幅减弱。公司不仅营收规模出现明显下滑，净利 润更是由盈转亏。导致这一状况的原因复杂多元。期间费用的大幅上升严重侵蚀了公司的利润空间。尽 管公司努力控制销售费用，但管理费用与财务费用却快速增长，尤其是财务费用因融资成本增加而显著 上升，三费占总营收比重同比大幅提高。 从业务结构看，公司主营业务表现疲软。扣除非经常性损益后的净利润同样呈现大幅下降态势，反映出 公司主营业务盈利能力面临严峻挑战。 在竞争日益激烈的黄金珠宝市场，明牌珠宝能否通过业务调整、费用控制和资产优化来应对当前挑战， 将决定其能否在行业变革中赢得持续发展动力。对于投资者而言，公司盈利能力的恢复情况和财务结构 的改 ...

Group 1 - The U.S. Supreme Court is debating the legality of Trump's large-scale imposition of reciprocal tariffs, with both liberal and conservative justices expressing doubts about its legality [1] - Chief Justice Roberts emphasized that tariffs imposed by Trump are essentially taxes on Americans, which is a core power of Congress [1] - The Supreme Court, which has a conservative majority of 6:3, is expected to announce its ruling in December [1] Group 2 - The probability of Trump winning the case has decreased to 27% from 40% prior to the debate, hitting a new low of 18% during the hearing [1] - If the Supreme Court rules against the legality of the tariffs, it could lead to increased risk aversion in financial markets, potentially driving up gold prices [1] - On the same day, gold prices in China rose by 0.79%, closing at 917.8 yuan per gram [1] Group 3 - According to Guangfa Futures, the U.S. economy and job market are facing challenges due to government shutdowns and trade tensions, leading to increased uncertainty in short-term policies [2] - Geopolitical risks and financial institution failures are prompting central banks to increase gold holdings, which may drive a resurgence in precious metals similar to the bull market of the 1970s [2] - The market may experience a 2-3 month consolidation period after reaching new highs in gold prices, with potential buying opportunities if prices drop below $3,900 (900 yuan) [2]

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