Group 1 - The article highlights the increasing interest in gold as an investment in 2025, leading to a surge in related illegal activities and government warnings across multiple cities such as Beijing, Shenzhen, and Xiamen [1][2] - Various illegal financial activities in the gold sector have been reported, including unauthorized "gold entrustment," "gold leasing," and "gold investment," which are associated with illegal fundraising, fraud, gambling, and illegal operations [1][2] - The Shenzhen gold market has seen significant issues, with some gold merchants facing operational abnormalities due to a betting model that allows customers to control large amounts of gold with minimal upfront payments, leading to investigations and warnings from industry associations [2] Group 2 - The gold market, traditionally viewed as a safe-haven asset, is being exploited by criminals who create misleading investment models to attract public funds, highlighting the need for increased public awareness and caution [2] - In response to the market chaos, local governments are actively issuing risk warnings and investigating businesses suspected of illegal operations, while industry associations are urging the public to invest through legitimate channels [2] - The article emphasizes the importance of rational investment and risk awareness to ensure that gold remains a true "safe haven" for wealth preservation [2]

Core Insights - Gold is becoming one of the most sought-after investment assets in 2025, leading to a surge in public investment enthusiasm and resulting in market chaos [1] - Various local governments have issued risk warnings regarding illegal activities in the gold sector, highlighting the diverse methods employed by criminals [2] Group 1: Market Dynamics - The high gold prices have coincided with a rise in illegal activities, prompting multiple cities, including Beijing, Shenzhen, and Xiamen, to issue risk alerts [1] - Shenzhen's warning specifically addresses illegal financial activities in the gold sector, including unauthorized "gold entrustment," "gold leasing," and "gold investment," which are linked to illegal fundraising, fraud, gambling, and illegal operations [1][2] Group 2: Criminal Activities - Criminals are luring investors with promises of "guaranteed returns," "zero risk," and "high returns," leading to participation in illegal fundraising activities [1] - In Shenzhen, the largest gold and jewelry market in China, some gold merchants have faced operational irregularities, with reports of "exploding" businesses due to illegal betting practices disguised as pricing models [1] Group 3: Regulatory Response - Local industry associations, such as the Shenzhen Gold and Jewelry Association, have issued warnings and taken action against several gold companies suspected of operating illegal gambling activities [1][2] - The article emphasizes the need for investors to be vigilant and to invest through legitimate channels, while urging regulatory bodies to enhance scrutiny of cross-industry operations and implement thorough oversight of new trading models [2]

Core Viewpoint - Gold prices are currently fluctuating around $4,100 per ounce, showing strong resilience despite a potential downward adjustment in the coming months [1][3] Market Sentiment and Economic Indicators - Short-term market sentiment is influenced by Federal Reserve policy, with a 79% probability of a rate cut next month, although opinions among research institutions vary [3] - Inflation trends and holiday consumer spending are key variables affecting market expectations, with holiday shopping projected to reach $1 trillion, reflecting a year-on-year growth of 3.7% to 4.2% [3] Structural Risks and Long-term Outlook - Increased investment demand has led to concerns about market volatility due to new entrants lacking experience in a complete gold bear market [4] - Historical patterns indicate that gold price adjustments can be sharper and deeper than expected, with potential for significant short-term fluctuations if crowded trades are unwound [4] - Despite potential short-term corrections, the long-term outlook for gold remains solid, with a 15% price adjustment still maintaining key support levels [4]

利安新加坡实物黄金基金是新加坡首只完全由实物黄金支持、投保且安全存放于新加坡金库的黄金基 金。正值新加坡建国 60 周年之际推出的这一里程碑式产品，充分发挥了新加坡作为全球金融中心和领先 黄金中心的双重优势。 新加坡2025年11月25日/美通社/ -- 华侨银行集团（OCBC Group）成员利安资金管理公司（简称利 安），今天宣布推出利安新加坡实物黄金基金（LionGlobal Singapore Physical Gold Fund），这是新加 坡首只在新加坡投保并安全储存的实物黄金基金。该基金将由华侨银行、MariBank Singapore、大东方 和Singlife集团负责零售分销，并指定渣打银行新加坡为基金托管人，这是新加坡金融业领军企业首次 携手合作推出旗舰级黄金产品，此项合作写下新的里程碑，体现了业界共同致力于提升新加坡作为区域 领先黄金枢纽的承诺。 在地缘政治不确定性日益加剧的背景下，黄金仍被视为可靠的避险资产。尽管纽约和伦敦等传统交易中 心仍具影响力，但全球黄金市场正稳步向东转移[1]。新加坡邻近全球25%的黄金产量来源国[2]，加上 其地缘政治中立以及战略地理位置的优势，使其具备成为领 ...

Core Viewpoint - The current gold price has reached a one-and-a-half-week high, with significant upward momentum driven by a combination of factors including Federal Reserve dovish signals and rising geopolitical tensions [1][2] Group 1: Market Analysis - Spot gold prices have successfully broken through the $4100 mark and are currently trading around $4140, indicating strong bullish momentum [1] - The probability of a Federal Reserve rate cut in December has surged from 40% to 81%, reflecting a shift in market sentiment [1] - The SPDR Gold Trust, the largest gold ETF, has seen increased holdings in recent days, suggesting institutional investors are actively building positions [1] Group 2: Technical Indicators - Short-term moving averages are in a bullish arrangement, with MACD showing a bullish crossover and RSI entering the overbought zone, indicating continued upward momentum [1] - The price is expected to test resistance levels around $4177-$4178 and potentially reach the psychological level of $4200, with further targets near the monthly high of $4244.96 [2] - Key support levels are identified at $4130-$4132, with additional support at $4110-$4100; a drop below these levels could shift the market sentiment to bearish [2]

中长期看，黄金价格中枢仍有望上行，投资者或可考虑后续回调参与、逢低分批布局。关注直接投资实 物黄金，免征增值税的黄金基金ETF（518800），覆盖黄金全产业链股票的黄金票ETF（517400）。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 每日经济新闻 相关机构表示，9月美国非农数据喜忧参半，多份重要数据取消或延迟，使得通胀与政策预期不确定性 较高，美联储12月降息预期反复摇摆；俄乌和谈可能重启，中日紧张关系持续。避险需求利好黄金，部 分对冲了降息预期降温对金价的压制。短期市场聚焦12月FOMC利率预期和美国经济基本面。中长 期"美联储开启降息周期+海外宏观政策不确定性加剧+全球去美元化趋势"对于金价构成一定支撑，或 可考虑逢低分批布局。 长期看，货币超发及财政赤字货币化背景下，美元信用体系受到挑战；加上全球地缘动荡频发推动资产 储备多元化， ...

今日周二（11月25日）亚盘时段，现货黄金目前交投于4145美元附近，截至发稿，现货黄金最新报 4145.93美元/盎司，涨幅0.27%，最高上探至4147.24美元/盎司，最低触及4122.12美元/盎司。目前来 看，现货黄金短线偏向看涨走势。 【最新现货黄金行情解析】 昨日11月24日（星期一），黄金早盘开盘后开始下跌，在下跌至4040附近企稳开始慢涨，欧盘以及美盘 延续上涨，到收盘前最高上涨至4140附近，日线收出一根阳线。 日线级别，上周市场经历震荡整理后，本周一以慢涨姿态突破上周高点并收阳，短期偏强格局明确。这 一走势不仅打破了前期震荡区间的束缚，还形成了"震荡后突破"的强势形态，暗示多头动能正在逐步积 聚。 指标上，5日均线拐头向上是短期强势的重要信号，目前该均线位于4095附近，成为日内核心支撑。若 金价回踩时能在4095上方企稳，说明短期多头承接力充足，偏强走势将继续。上方重点聚焦4160高点阻 力。 【要闻速递】 在南非约翰内斯堡举行的二十国集团（G20）峰会期间，印度总理莫迪与加拿大总理卡尼23日举行双边 会谈，两国同意重启此前停滞的贸易协定谈判。 随着美国金融市场不稳定性问题凸显，美联储 ...

截至发稿，黄金股ETF涨2.75%，年内涨79.61%；黄金ETF华夏涨1.83%，年内涨52.68%。 黄金ETF华夏(518850)锚定，其底层资产为上海黄金交易所的黄金合约，直接反映黄金价格波动，支持 T+0交易。 黄金股ETF(159562)投资于在港A股上市的黄金相关公司，权重股聚焦金矿股，如、、等，也包含珠宝 零售公司，如老铺黄金、周大福等。 消息面上，美联储官员释放鸽派信号，支持12月降息，增强市场对政策放松预期。据CME美联储观 察：美联储12月降息25个基点的概率为82.9%（昨日为69.4%），维持利率不变的概率为17.1%。 作为黄金投资"利器"，黄金ETF华夏和黄金股ETF的综合费率均为0.2%，属于同类最低。以100万元投 资为例，相比市面上普遍0.6%费率的同类产品，持有一年可节省4000元成本。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com 澳新银行研究部分析师认为，在央行 ...

Core Insights - The recent fluctuations in gold prices have sparked interest among investors, particularly regarding the potential for investment opportunities as of November 24, 2025 [1][3] - The domestic gold price on this date was reported at 932.03 CNY per gram, reflecting an increase of 9.35 CNY, or 1.013% from the previous day [1][3] - Gold is viewed as a stable asset, often chosen for investment during times of economic uncertainty, providing a hedge against inflation and currency depreciation [3][8] Price Fluctuations - On November 24, 2025, the Shanghai Gold Exchange reported a trading range for gold, with a high of 935.02 CNY per gram and a low of 922.96 CNY per gram, indicating significant price volatility [3] - Short-term price fluctuations can present opportunities for long-term investors to optimize their holdings, as these changes do not typically affect their overall investment strategy [3][8] Gold Purity and Market Preferences - The majority of gold in the domestic market is of 99.99% purity, known as "four nines gold," which is favored for its aesthetic qualities and suitability for jewelry and bullion [5] - Investors should consider factors such as purity and weight in addition to price when making purchasing decisions, as these elements directly impact potential investment returns [6] Currency Influence - The price of gold in CNY is influenced by the exchange rate of the Chinese yuan against the US dollar; a stronger yuan can lead to lower gold prices in local currency terms, while a weaker yuan can increase prices [6] - This relationship explains why investors may turn to gold during periods of significant currency fluctuation, as it offers a stable value against currency depreciation [6][8] Investment Strategies - For investors focused on long-term holdings, short-term price movements are less concerning and can be leveraged for strategic entry points [6][8] - Conversely, those seeking short-term gains may find the current price fluctuations provide actionable opportunities for profit [8]

那中长线投资者该怎么布局呢？帮主给大家三个实在的思路。第一，别追高，要"逢低布局"。短期金价 波动的时候，咱们沉住气，等回调到合理区间再分批买入，既降低成本，又能避免短期波动的风险。第 二，把黄金当"资产安全垫"，别重仓押注。黄金的核心价值是避险和抗通胀，适合作为资产组合里的配 置部分，平衡股票、基金这些风险资产的波动，而不是把所有钱都投进去赌5000美元的目标。第三，紧 盯核心逻辑，不被短期噪音干扰。只要矿产供应紧张、库存低迷、政策支撑这些核心因素没变，黄金的 长期趋势就值得看好；如果这些逻辑发生变化，咱们也得及时调整策略。 帮主做了20年财经记者，见过太多市场上的重磅预测，有的实现了，有的没达标。关键不是迷信预测数 字，而是看懂背后的基本面逻辑。黄金这波上涨有实实在在的供需和政策支撑，长期趋势值得关注，但 中长线投资拼的是耐心和理性，不是一时的冲动。 先说说美国银行这个预测的核心逻辑，可不是随便喊的。以迈克尔·维德默为首的策略师团队分析得很 明白，现在黄金虽然看着有点"超买"，但其实还处于"投资不足"的状态，而且美国那波不太寻常的经济 政策，给金价提供了实打实的支撑。他们还说了，明年黄金均价就能到4538 ...