Group 1 - Spot gold prices rose to $4040.260 per ounce, an increase of 0.61% on the day, while COMEX gold was up 0.45% at $4140.4 per ounce [1][2] - On the previous trading day, spot gold surged by 2.85%, closing around $4115, marking the highest closing price since October 23 [2] - Domestic gold jewelry prices also saw significant increases, with brands like Chow Sang Sang and Lao Feng Xiang raising their prices to over 1300 RMB per gram [3] Group 2 - The ongoing increase in gold prices is attributed to rising global distrust in the financial system, with central banks continuing to accumulate gold as a safe-haven asset [12] - China's central bank has increased its gold reserves for 12 consecutive months, reaching 2304.46 tons by the end of October, indicating strong long-term demand [12] - Investment demand for gold remains robust globally, with record inflows into Indian gold ETFs and a notable increase in purchases [12]

Core Viewpoint - The market sentiment has improved due to news regarding Sino-U.S. trade negotiations, leading to a rebound in the A-share market and a decline in gold prices [1] Group 1: Market Performance - The three major indices in the A-share market rose by over 1% [1] - COMEX gold futures prices fell below $4100 per ounce [1] - The performance of gold-related ETFs was mixed, with Huaxia Gold ETF (518850) down 0.47%, Gold Stock ETF (159562) up 2.03%, and Nonferrous Metals ETF (516650) up 2.58% [1] Group 2: Gold Price Trends - Spot gold prices have been fluctuating around the $4090 per ounce range, having retreated approximately 6% to 7% from the historical high in mid-October [1] - The current environment is characterized by geopolitical tensions easing, ongoing trade negotiations, profit-taking from safe-haven assets, and a strengthening U.S. dollar, all contributing to the gold price pullback [1] Group 3: Future Outlook on Gold - According to Shenwan Hongyuan analysis, the driving factors for gold prices are weakening, indicating a potential for high-level fluctuations and adjustments in the short term [1] - However, in the broader context, the ongoing deterioration of the U.S. fiscal deficit and debt situation, increasing global confrontations, and rising distrust in the current financial system are leading central banks to continue accumulating gold [1] - There is a growing recognition among investors of gold as a safe-haven asset and a store of value, reinforcing the narrative that gold is becoming the ultimate safe asset [1]