万国黄金集团（03939）盘中涨超10%，近两日成交量显著放大。截至发稿，股价上涨9.75%，现报8.89 港元，成交额1.93亿港元。 客户端 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 万国黄金集团（03939）盘中涨超10%，近两日成交量显著放大。截至发稿，股价上涨9.75%，现报8.89 港元，成交额1.93亿港元。 瑞银近期在报告中将2026年前三季度黄金价格预期上调至每盎司5000美元，若政治或经济动荡加剧，可 能涨至每盎司5400美元。 兴业证券此前研报指出，万国黄金集团成长性和盈利能力占优。公司主要增量来自于金岭矿业，所罗门 金矿选厂已启动1000万吨/年新建计划，紫金赋能工程建设，投产后采选规模将从目前的350万吨/年增 至1350万吨/年，预计于2028年建成投产，估计黄金年产量有望达到15吨，打造成为世界级金矿。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 责任编辑：卢昱君 瑞银近期在报告中将2026年前三季度黄金价格预期上调至每盎司5000美元，若政治或经济动荡加剧，可 能涨至每盎司5400美元。 兴业证券此前研报指出，万国黄金集团成长性和盈利能力占 ...

兴业证券此前研报指出，万国黄金集团成长性和盈利能力占优。公司主要增量来自于金岭矿业，所罗门 金矿选厂已启动1000万吨/年新建计划，紫金赋能工程建设，投产后采选规模将从目前的350万吨/年增 至1350万吨/年，预计于2028年建成投产，估计黄金年产量有望达到15吨，打造成为世界级金矿。 消息面上，美国和委内瑞拉地缘紧张局势为贵金属提供支撑。现货黄金今早再度拉涨，现突破4460美 元/盎司。瑞银近期在报告中将2026年前三季度黄金价格预期上调至每盎司5000美元，若政治或经济动 荡加剧，可能涨至每盎司5400美元。 智通财经APP获悉，万国黄金集团(03939)涨超10%，近两日成交量显著放大。截至发稿，涨10.49%，报 8.95港元，成交额1.85亿港元。 ...

万国黄金集团(03939)涨超10%，近两日成交量显著放大。截至发稿，涨10.49%，报8.95港元，成交额 1.85亿港元。 兴业证券此前研报指出，万国黄金集团成长性和盈利能力占优。公司主要增量来自于金岭矿业 （000655），所罗门金矿选厂已启动1000万吨/年新建计划，紫金赋能工程建设，投产后采选规模将从 目前的350万吨/年增至1350万吨/年，预计于2028年建成投产，估计黄金年产量有望达到15吨，打造成 为世界级金矿。 消息面上，美国和委内瑞拉地缘紧张局势为贵金属提供支撑。现货黄金今早再度拉涨，现突破4460美 元/盎司。瑞银近期在报告中将2026年前三季度黄金价格预期上调至每盎司5000美元，若政治或经济动 荡加剧，可能涨至每盎司5400美元。 ...

新闻，包括政策文件这种东西，我是看的。用我们的话说就是，精读发财，略读辟邪，不读踩坑。但其实我也不是什么都看，顶多也 就能做到略读，但是自媒体时代有个很大的好处，那些精读的人会写笔记，所以我也会看看他们的笔记。 至于这些文件怎么发挥作用的问题，我感觉可以参考一下2016年的房地产。当时我国房价全面上升，国家在这一年出台了很多文件， 包括提高首付比例，禁止两年内买卖，提高利率等等。说几个细节的问题，十月叫停了首付贷，几乎同时要求各个地方城市出台对应 的限购等到限制政策。 明年黄金涨价 我是在评论区看到这个消息的，人们说什么的都有，但方向出奇的一致。总体来说就是一句话，好事轮不到百姓头上。比如说：国家 想要让你多买点黄金，或者说这是局做好了。 然后我就去翻了一下新闻原文，原文是：世界黄金协会表示，2026年黄金价格有望上涨。然后查一下世界黄金协会，在英国，说起来 就是非营利组织，但是资本主义社会里你和我说有非盈利组织我其实不太信。到了自媒体嘴里就变成了，央妈喊话。央视是一个媒 体，它每天也会转载大量的外媒，转载的消息，不保真。如果外媒本身的消息有问题，央视转载过来也就有问题。这种事情不奇怪。 但是转载的时候都会加 ...

Group 1 - The core viewpoint is that gold prices are expected to rise due to increased investment demand, particularly through gold ETFs, amid a backdrop of low inventory and expectations of monetary easing by the Federal Reserve [1][2]. - As of December 8, 2025, the gold ETF (159834) has seen a net inflow of 36.24 million yuan over the last 10 trading days, with a total transaction amount of 8.36 million yuan on December 9, 2025 [1]. - The People's Bank of China reported a gold reserve of 7.412 million ounces (approximately 2305.39 tons) as of the end of November 2025, marking a month-on-month increase of 30,000 ounces (approximately 0.93 tons) for the 13th consecutive month [1]. Group 2 - The World Gold Council's report indicates that gold has performed exceptionally well in 2025, with expectations for prices to rise by 15% to 30% in 2026 based on current levels [1]. - Global gold ETFs have attracted $77 billion in inflows this year, with an increase of over 700 tons in gold holdings [1]. - The recent rise in gold prices is attributed to heightened expectations of a rate cut by the Federal Reserve in December, alongside a restructured monetary credit landscape following the passage of significant fiscal legislation in the U.S. [2].

Group 1 - Gold stocks collectively rose, with notable increases: Zhenfeng Gold up 5.8% to HKD 2.19, China Silver Group up 4.48% to HKD 0.7, Lingbao Gold up 4.47% to HKD 16.36, Chifeng Gold up 3.9% to HKD 30.88, and China National Gold up 3.4% to HKD 146.1 [1] - Recent speeches from Federal Reserve officials and delayed economic data support expectations for interest rate cuts, with the likelihood of a 25 basis point cut in December rising from approximately 40% to 80% [1] - Kevin Hassett, the Director of the White House National Economic Council, is reported to be the leading candidate for the next Federal Reserve Chair, which could lead to a more dovish monetary policy [1] Group 2 - Goldman Sachs' global commodities research co-head predicts gold prices may reach USD 4,900 per ounce by the end of next year, representing an 18% increase from current levels [2] - Deutsche Bank forecasts gold prices could rise to USD 4,950 by 2026, indicating a 19.4% increase [2] - Demand for gold from central banks and ETF investors appears to remain strong, according to Deutsche Bank's research analyst [2]

Group 1 - The international gold price is fluctuating around $4150 per ounce, slightly below the one-week high reached on Wednesday, driven by rising expectations of a Federal Reserve rate cut in December, which enhances the appeal of non-yielding gold in a low-interest-rate environment [1] - The World Gold Council reported a net increase of 55.1 tons in global gold ETF holdings as of October 2025, with significant increases in North America (47.2 tons) and Asia (44.8 tons), while Europe saw a notable outflow of 37.3 tons [2] - Deutsche Bank has raised its gold price forecast for 2026 from $4000 to $4450 per ounce, citing stable investor flows and ongoing demand from central banks for gold [2] Group 2 - Goldman Sachs predicts that gold prices could reach $4900 per ounce by the end of 2026, driven by continued central bank purchases and potential diversification by private investors into gold [2] - Analysts suggest that diversification by the private sector into the gold market could push ETF holdings above interest rate-based estimates, indicating an overall upward risk [2] - The gold price has seen nearly a 60% increase this year, attributed to central bank purchases, increased ETF demand, a weaker dollar, and retail investor hedging against trade and geopolitical tensions [2] Group 3 - The international gold price continues to consolidate within the range of $4100 to $4190 per ounce, failing to break through the $4200 per ounce level [3] - If the gold price surpasses $4200 per ounce, the next resistance level will be the November 13 high of $4245 per ounce, with a potential target of $4300 per ounce and a chance to challenge the historical high of $4381 per ounce [3] - Conversely, if the gold price falls below $4100 per ounce, it may test the 20-day simple moving average at approximately $4065 per ounce, with further declines potentially reaching $4000 per ounce [3]

Core Viewpoint - The Hong Kong stock market experienced a decline for the fourth consecutive day, reflecting low market risk sentiment, with major indices hitting new lows since early September [1] Group 1: Market Performance - The Hang Seng Technology Index fell by 0.69%, reaching its lowest point since early September, while the Hang Seng Index and the National Enterprises Index decreased by 0.38% and 0.26%, respectively [1] - Major technology stocks continued to decline, with Xiaomi dropping nearly 5% to its lowest level since early April, and Kuaishou and JD.com also hitting new lows [1] Group 2: Sector Performance - New consumption concept stocks, gambling stocks, Apple-related stocks, building materials and cement stocks, domestic real estate stocks, Chinese brokerage stocks, automotive stocks, semiconductor stocks, and traditional Chinese medicine stocks mostly performed poorly [1] - Conversely, Goldman Sachs indicated that global central banks are still "buying aggressively," predicting that gold could reach $4,900 next year, leading to an increase in gold stocks and a rise in copper and other non-ferrous metal stocks [1] - Energy sectors, including coal and oil stocks, showed active performance, with all three major oil companies experiencing gains, and China Petroleum and Chemical Corporation reaching a new high [1]

Group 1: Market Insights - Goldman Sachs predicts that central banks may significantly increase gold purchases in November, with gold prices potentially rising to $4,900 by the end of 2026 [3] Group 2: Macroeconomic and Policy News - China's fiscal revenue from January to October reached 18.65 trillion yuan, a year-on-year increase of 0.8%, while fiscal expenditure was 22.58 trillion yuan, up 2% [4] - In October, China's foreign exchange settlement by banks was $214.2 billion, with a surplus of $17.7 billion, indicating a net inflow of cross-border funds [4] - The real estate market in China is stabilizing, with second-hand home transactions dominating, showing a 4.7% year-on-year increase in transaction area from January to October [4] Group 3: Employment and Inflation - Federal Reserve Vice Chairman Jefferson noted an increase in downside risks to employment, while inflation risks may have slightly decreased [5] - The White House's National Economic Council Director Hassett indicated mixed signals in the labor market, suggesting a potential slowdown [5] Group 4: International Economic Data - Japan's GDP contracted by 0.4% quarter-on-quarter in Q3, marking the first negative growth since Q1 2024, primarily due to weak exports and residential investment [6] - The European Commission forecasts a faster-than-expected economic expansion in the Eurozone, with GDP growth projected at 1.3% for the year [6] - India's trade deficit widened to a record $41.68 billion in October, influenced by increased gold imports and decreased exports to the U.S. [6] Group 5: Commodity and Industry News - Indonesia plans to implement an export tax of 7.5% to 15% on gold products starting next year [6] - Mysteel reported a decrease in iron ore arrivals in China, with total arrivals at 2,369.9 million tons, down 399.4 million tons week-on-week [7] - The coal market is experiencing a decline in operational rates, with a reported drop in production and inventory levels [8]

Core Viewpoint - The upward trend of gold prices is expected to continue until 2026, potentially breaking previous records due to central banks in emerging markets increasing their gold reserves and changes in the macroeconomic environment [1][2]. Group 1: Price Projections - According to JPMorgan Private Bank, gold prices may rise above $5,000 per ounce by the end of 2026, with a potential range of $5,200 to $5,300 per ounce, representing an approximate increase of 27% from the current level of about $4,143 per ounce [2]. - The main driving force behind this price increase is the growing demand from central banks, particularly in emerging markets, for gold as a store of value and asset allocation tool [2]. Group 2: Central Bank Purchases - Central bank purchases of gold have become a key factor influencing gold prices, with a significant increase in gold buying over the past two years [3]. - As of September 2025, global central banks have added 634 tons of gold, a notable increase compared to levels before 2022, with expectations that purchases may reach between 750 to 900 tons by 2025 [3]. Group 3: Market Dynamics - Despite short-term fluctuations, including a dip below $3,000 per ounce, the gold market has shown renewed upward momentum, recovering to near three-week highs [4]. - The market's response to changes in monetary policy expectations and the release of economic data is expected to clarify investor outlooks on gold and other asset classes [4].