2025年11月29日黄金行情再创新高了。受美联储12月降息预期、美元走弱等因素推动，伦敦现货黄金冲 到4229美元/盎司，国内实时金价959元/克，黄金回收价940元/克。品牌金饰全线上涨，周大福1328元/ 克涨7元，周生生1330元/克，菜百首饰涨10元达1292元/克。 11月29日黄金价格。 银行金条方面，工行977.18元/克、农行992.49元/克实时变动。贵金属涨势正劲，想入手或回收黄金的 朋友可得抓紧关注实时行情。 ...

现货黄金向上触及4200美元，日内上涨1.03%。 ...

Core Viewpoint - The A-share market opened weakly, while spot gold approached the $4,200 per ounce mark, with gold stocks rising and the gold ETF (159834) increasing by 0.82%, expanding its year-to-date gain to 53.36% [1] Group 1: Gold Market Dynamics - Spot gold has rebounded over 2% this week after a decline of more than 5% since its peak on October 20, supported by indications of a potential interest rate cut by the Federal Reserve [1] - The probability of a 25 basis point rate cut in December exceeds 80%, which typically benefits gold assets [1] - Factors supporting the rise in gold prices include challenges to the dollar's credit system, a 44% average annual growth in central bank gold purchases from 2020 to 2024, and the ineffectiveness of the real interest rate pricing framework in a high inflation environment [1] Group 2: Gold ETF Performance - The latest scale of the gold ETF (159834) is 1.282 billion yuan, an increase of 802 million yuan since the beginning of the year, representing a growth rate of over 160% [2] - The ETF closely tracks the spot price of gold contracts on the Shanghai Gold Exchange, offering high transparency and liquidity, and supports T+0 intraday trading [2]

Group 1 - The core point of the article is that spot gold has surpassed $4,170 per ounce, with a daily increase of 0.31% [1]

Core Viewpoint - International gold prices have surged, reaching a historical high of $4,300 per ounce in October, with a year-to-date increase of over 58%, leading to heightened market attention on the performance of leading gold companies like Chow Tai Fook [1] Group 1: Financial Performance - Chow Tai Fook reported a revenue of HKD 38.986 billion for the first half of the 2026 fiscal year, a decrease of 1.1% year-on-year [1] - The operating profit was HKD 6.823 billion, reflecting a year-on-year increase of 0.7% [1] - Shareholder profit stood at HKD 2.534 billion, a slight increase of 0.1% compared to the same period last year [1] Group 2: Product Strategy - The "fixed-price" gold jewelry products have emerged as a key growth driver, with the gross profit margin maintained above 30% due to high-margin pricing and rising gold prices [4] - Sales from key product series, including the Palace Museum series, reached HKD 3.4 billion, up approximately 48% from HKD 2.3 billion in the previous year [4] - The retail value contribution of fixed-price jewelry in mainland China increased from 27.4% to 31.8%, with the average selling price of fixed-price gold jewelry rising from HKD 5,300 to HKD 6,300 [4] Group 3: Retail Strategy - Chow Tai Fook closed 611 retail points in the past six months, reducing the total number of retail points in mainland China to 5,663 as of September 30, 2025 [5][7] - The company reported a 2.6% increase in same-store sales in mainland China, indicating improved performance from the store optimization strategy [7] - Chow Tai Fook is strategically expanding into high-end shopping centers and core locations to enhance brand appeal, with plans to open six new stores in international markets by June 2026 [7] Group 4: Pricing Adjustments - In response to rising international gold prices, Chow Tai Fook has implemented multiple price increases, with adjustments ranging from 10% to 20% in March and 12% to 18% in late October [8] - As of November 26, the company had completed three rounds of price increases throughout the year [8]

Core Insights - The gold price of Mingpai Jewelry on November 26 is reported at 1315 CNY per gram, reflecting an increase of 56 CNY or 4.45% compared to the beginning of the month [1][2] - The current price is 18 CNY lower than the highest price of the month and 60 CNY higher than the lowest price, with an average price of 1294 CNY per gram for the month [1][2] Monthly Price Statistics - Current price: 1315 CNY per gram [2] - Daily price change: 0% [2] - Highest price of the month: 1333 CNY per gram [2] - Lowest price of the month: 1255 CNY per gram [2] - Difference from highest price: -18 CNY [2] - Difference from lowest price: 60 CNY [2] - Average price for the month: 1294 CNY per gram [2]

Core Viewpoint - Gold is expected to continue its record-setting rally, with forecasts suggesting a potential increase of up to 20% by 2026, following a significant year-to-date rise of 57% [1][2]. Group 1: Price Predictions - Bank of America predicts gold could reach $5,000 an ounce by next year, indicating a 19% increase from current levels, driven by factors like growing US deficit spending and macroeconomic policies [4]. - Goldman Sachs estimates gold may hit $4,900 an ounce by the end of next year, reflecting a 17% increase, supported by persistent bullish factors [5]. Group 2: Bullish Factors - Increased central bank buying is a significant driver, as central banks seek to diversify their reserves into gold, perceived as a safe asset following geopolitical tensions [7]. - Anticipated cuts in interest rates by the Federal Reserve, estimated at around 75 basis points, are expected to boost investment in gold as a non-yielding asset, with similar actions anticipated from other central banks globally [7].

Core Viewpoint - Spot gold prices increased by over 1%, reaching $4,172.34 per ounce [1] Group 1 - The rise in spot gold prices indicates a positive trend in the gold market [1]

Core Viewpoint - The spot gold price has surpassed $4,160 per ounce, indicating a significant upward trend in the gold market [1] Price Movement - As of November 26, the London gold spot price was reported at $4,164.09 per ounce, with an intraday high of $4,169.003 per ounce, reflecting a daily increase of 0.82% [1]

Core Insights - Spot gold prices have risen sharply, currently reported at $4163.21 per ounce, marking the highest level since November 14, with a daily increase of 0.78% [1] Group 1 - The current spot price of gold is $4163.21 per ounce, which is a significant increase [1] - The price increase of 0.78% indicates a positive trend in the gold market [1] - This price point represents the highest level for gold since mid-November [1]