是否经历过这样的时刻？深夜，金价突然启动，手机推送接连不断，而你却一头雾水，等到看清新闻，行情早 已走完，只留下错失良机的懊悔。你不是在分析上慢了，而是在信息的起跑线上，已经迟到了，翻遍各类资讯 平台却找不到核心解读，只能看着K线上下波动，错失入场或止盈的最佳时机。 对普通投资者而言，要在海量信息中快速筛选出有价值的内容，还要做到24小时不间断跟踪，不仅耗费精力， 还容易因信息滞后留下遗憾。而专业投资者早已建立起多维度的资讯过滤体系。他们既关注美联储官员讲话的 弦外之音，也监测全球黄金ETF持仓的细微变化；既分析CPI数据的环比走势，也追踪美元指数与美债收益率的 联动效应。这种立体化的信息处理能力，正是普通投资者难以跨越的专业壁垒。 将专业资讯，转化为你的"决策直觉" 如今，万洲金业专业的行情资讯服务能够实现关键数据的智能抓取与精准推送，将纷繁复杂的信息流提炼成直 击要害的投资线索。不堆砌无关数据，而是聚焦那些真正能影响金价的核心要素：从美联储的政策动向、全球 主要经济体的通胀数据，到地缘冲突的进展、黄金供需关系的变化，每一条快讯都经过梳理，用清晰易懂的语 言呈现，即使是刚接触黄金投资的新手，也能快速把握市场 ...

近日，在北京举行的2025搜狐财经年度论坛上，多位来自学术界、企业界和投资领域的权威嘉宾齐聚一 堂，围绕房地产、黄金等多个热点议题展开深度对话。 针对黄金市场，山东招金精炼副总经理梁永慧针对黄金价格飙升指出，"长期看黄金牛市格局未变，但 因2025年价格上涨过快，中期需经历1至3个月调整，预计黄金年底前将呈震荡行情。"他建议，"从家庭 资产配置角度，可考虑将5%至30%的比例配置于黄金现货或ETF，并对黄金长期趋势保持乐观。" 中金公司（601995）研究部大类资产配置研究负责人李昭表示，"2025年黄金上涨的核心逻辑未变，对 黄金的后市仍保持乐观。面对不确定的宏观环境与地缘环境，2026年全球央行与全球投资者可能还会进 一步增加黄金配置。"他还提醒，现在黄金价格已经明显高于估值中枢，虽然估值高并不意味着牛市终 结，但是高估值确实有可能导致资产价格波动增大。 对于投资领域的未来发展与挑战，梅花创投创始合伙人、搜狐视频关注流播主吴世春表示，"当前募资 艰难、退出周期漫长，从天使轮到IPO可能需约12年，但他依然坚信早期投资在中国是'好生意'，不过 前提是必须具备对国运的信仰和极致的耐心。" 对于房地产市场，58 ...

Core Viewpoint - The gold market is experiencing volatility due to mixed signals from the Federal Reserve regarding interest rate cuts, with a high probability of a December rate cut at 84.9% but hawkish comments from officials creating uncertainty [1] Group 1: Market Analysis - Gold prices recently peaked at $4162 before a sharp decline below $4150, reflecting market fluctuations between easing expectations and cautious sentiment [1] - Goldman Sachs maintains a bullish outlook for gold, projecting prices to reach $4900 per ounce, driven by central bank purchases and diversified investor demand [1] - Deutsche Bank has raised its 2026 gold price forecast to $4450, citing a positive structural outlook and favorable supply-demand dynamics [1] - Analysts from Giant believe that the global sentiment is leaning towards bullishness for gold, with targets set at $4535 and $4885 in the upcoming year [1] Group 2: Investment Strategies - Giant Gold Industry emphasizes three key capabilities for investors: 1. Regulatory platform empowerment, ensuring safety and additional services through its AA-class membership in the Hong Kong Gold Exchange [1] 2. Strategy empowerment, providing real-time, precise market strategies through a team of experienced analysts and the GoldGPT AI assistant for comprehensive trading support [2] 3. Comprehensive risk control system, including independent fund management, 24/7 customer support during extreme market conditions, and promotional activities to support trading [4] Group 3: Long-term Support Factors - The trend of de-dollarization is evident, with global central banks purchasing over 200 tons of gold for several consecutive quarters, providing structural support for gold prices [6] - Despite fluctuations in the Federal Reserve's easing process, the overall direction remains clear, enhancing gold's appeal as a non-yielding asset [6] - Ongoing geopolitical risks, such as the Russia-Ukraine conflict and Middle Eastern tensions, continue to create demand for gold as a safe-haven asset [6]

Core Viewpoint - The article highlights Tether, a controversial stablecoin issuer in the cryptocurrency world, as a significant buyer of gold, reshaping the supply-demand dynamics of traditional safe-haven assets [1][2]. Group 1: Tether's Gold Holdings - As of September 30, Tether holds 116 tons of gold valued at approximately $14 billion, making it the largest single holder of gold outside of major central banks [2]. - In Q3 alone, Tether purchased about 26 tons of gold, accounting for 2% of global gold demand during that period and 12% of known central bank purchases [3][11]. Group 2: Impact on Gold Prices - The article suggests that Tether's gold purchases have contributed to a 56% increase in gold prices by 2025, with gold prices rising by about $2000 this year [5][11]. - Tether's demand has potentially tightened supply and influenced market sentiment, driving speculative funds into the gold market [6]. Group 3: Future Gold Purchases - Tether plans to purchase approximately 100 tons of physical gold by 2025, supported by an expected profit of nearly $15 billion this year [12][11]. - The strategy involves using gold reserves to back two different tokens, USDT and Tether Gold (XAUt), with a total of 116 tons of gold backing these tokens [13]. Group 4: Regulatory Challenges - Tether's gold purchasing strategy conflicts with the recently passed GENIUS Act, which prohibits compliant issuers from using gold as reserve assets [14]. - Despite regulatory challenges, Tether has increased its gold reserves, indicating a long-term strategy focused on tokenized gold [14][17]. Group 5: Market Dynamics and Risks - The intertwining of cryptocurrency and traditional safe-haven assets raises concerns about the potential for speculative bubbles in gold [7][15]. - If demand for stablecoins reverses, the gold reserves supporting them may face selling pressure, impacting the gold market [7][15]. Group 6: Tokenized Gold Market - Tether's ambition in the tokenized gold market reflects a desire to provide a more accessible way for retail investors to hold gold without the high costs associated with physical ownership [17][18]. - However, demand for tokenized gold remains low, with Tether being one of the few issuers with significant holdings [19].

Core Viewpoint - The Shenzhen Special Task Force Office has issued a warning regarding illegal financial activities in the gold trading sector, highlighting the risks associated with fraudulent schemes disguised as gold investment opportunities [1][2] Summary by Sections Illegal Financial Activities - Recent fluctuations in gold prices have led to the emergence of illegal activities, including "gold entrustment," "gold leasing," and "gold investment," which may involve illegal fundraising, fraud, gambling, and other unlawful operations [1] - These activities disrupt the economic and financial order and pose significant risks to public property safety [1] Regulatory Framework - China operates under a financial business licensing system, prohibiting any organization or individual from engaging in financial activities without approval from national financial regulatory authorities [1] - Specific regulations include: - Futures trading must occur on legally established futures exchanges or other approved venues, with trading outside these venues being prohibited [1] - Only authorized financial institutions can conduct gold asset management activities, while other organizations lack the necessary qualifications [1] - Physical gold investments must be registered and custodial services are limited to financial institutions and approved gold trading venues [1] Public Awareness and Reporting - Jewelry dealers and stores are not classified as financial institutions and lack the qualifications to engage in gold asset management or public fundraising [2] - The public is urged to be vigilant and choose legitimate investment channels, avoiding misleading offers such as "guaranteed returns" and "high interest" schemes [2] - Individuals are encouraged to report any illegal financial activities related to gold investment to relevant authorities [2]

（原标题：世界黄金协会王立新：黄金涨跌不纠结 纳入资产底仓配置更稳妥） 21世纪经济报道记者 唐婧 北京报道 11月22日，为凝聚行业智慧、探寻发展新路径，由南方财经全媒体集团指导、21世纪经济报道主办 的"第二十届21世纪金融年会"在北京盛大召开。世界黄金协会中国区CEO王立新就黄金不断刷新历史新 高分享了自己的看法。 王立新表示，国际金价2025年创下了47次新高，2024年创下了将近30次新高，这在历史上都绝无仅有。 今年以来国际金价的涨幅达到54%，在全球大类资产中的表现数一数二。世界黄金协会有一个黄金价格 的归因模型，把影响黄金的因素分为四大类，分别是美元的利率、地缘政治风险、全球买卖黄金的势能 和黄金自身的基本面。 王立新介绍，目前多项黄金需求之中，有两大核心支撑。一是全球黄金 ETF 持仓的大幅增长。黄金 ETF 是世界黄金协会于 2002 年推出的创新金融产品，通过将黄金现货与 ETF 指数挂钩，实现了在全球 资本市场的上市交易。截止2025年三季度，全球黄金 ETF 持仓增长了 619 吨，创下历史纪录，成为推 动金价走强的关键力量。 二是各国央行持续加码的购金行为。全球央行购金已实现连续1 ...

Core Insights - Tether, a major stablecoin issuer, has emerged as a significant buyer of gold, holding 116 tons valued at approximately $14 billion, making it the largest single holder of gold outside of central banks [1][3][5] - Tether's gold purchases have influenced gold prices, contributing to a 56% increase in gold prices in 2025, with its buying activity aligning closely with price surges [3][5] - The intertwining of cryptocurrency and traditional safe-haven assets like gold raises concerns about potential market volatility and the risk of speculative bubbles in gold [3][7] Group 1: Tether's Gold Holdings and Market Impact - As of September 30, Tether's gold holdings are comparable to the official reserves of countries like South Korea and Hungary, with its purchases accounting for 2% of global gold demand in Q3 [1][5] - Tether's gold buying activity has increased significantly, with its purchases representing 14% of central bank gold purchases in Q2 and 12% in Q3 [5][6] - The demand from Tether is expected to continue, with plans to purchase an additional 100 tons of gold by 2025, supported by its projected profits of nearly $15 billion this year [5][6] Group 2: Regulatory and Strategic Considerations - Tether's strategy involves using gold to back two different tokens, USDT and Tether Gold (XAUt), with a total of 116 tons of gold in reserves [6][10] - The recent GENIUS Act prohibits stablecoin issuers from using gold as reserve assets, yet Tether has increased its gold reserves, raising questions about its long-term strategy [6][10] - Tether's ambition to create a gold-backed cryptocurrency aims to provide a more accessible way for retail investors to hold gold, despite current regulatory challenges [10][11] Group 3: Speculative Risks and Market Dynamics - The relationship between gold and cryptocurrencies reflects concerns over currency devaluation, but the volatility of cryptocurrencies poses risks to the stability of gold as a safe-haven asset [7][11] - Jefferies predicts increased demand for gold from the stablecoin sector, but the unpredictable nature of the crypto market could lead to significant pressure on gold prices if demand shifts [7][11] - Tether's efforts to promote a gold-backed value exchange system face skepticism, particularly regarding the transparency and security of its gold reserves [11]

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: Industry Response - The Shenzhen Gold and Jewelry Association has issued industry warnings, and several gold jewelry companies have been investigated for potentially engaging in illegal gambling activities [1] - The industry is calling for public investment through legitimate channels and urging caution against "gray" businesses that exploit the public's speculative tendencies [2] Group 3: Regulatory Environment - Regulatory bodies are encouraged to enhance cross-industry scrutiny, particularly focusing on new business models like virtual trading, to ensure thorough oversight [2] - The narrative suggests that while gold is traditionally viewed as a wealth preservation tool, it has been compromised by illegal activities, turning it into a "beautiful trap" for investors [2]

Core Viewpoint - The Shenzhen Municipal Financial Committee Office issued a warning regarding illegal financial activities in the gold trading sector, highlighting the risks associated with fraudulent schemes disguised as gold investment opportunities [1][2]. Summary by Relevant Sections Illegal Activities - Recent fluctuations in gold prices have led to the emergence of illegal activities, including unauthorized "gold entrustment," "gold leasing," and "gold investment" schemes, which may involve illegal fundraising, fraud, gambling, and other unlawful behaviors [1]. - Case examples illustrate how gold jewelry dealers are misleading consumers into signing contracts that promise fixed returns without the actual transfer of physical gold [1][2]. Case Examples - Case One: A gold jewelry dealer (A) lured consumers into signing a physical gold purchase contract, then encouraged them to enter into a gold entrustment contract with a related third party (B), promising fixed returns [1]. - Case Two: Another dealer (C) used a similar tactic with "gold leasing," where consumers were misled into signing contracts that promised rental returns without actual gold possession [1]. - Case Three: A dealer (D) established an illegal gold trading app, promoting misleading offers such as "1,000 grams of gold for a 10,000 yuan deposit," with a high leverage ratio, exposing investors to significant risks [2]. Regulatory Warning - The warning emphasizes that gold jewelry dealers and stores are not financial institutions and lack the necessary licenses from national financial management authorities to engage in gold asset management or public fundraising activities [2]. - The public is urged to be vigilant and to avoid falling for enticing phrases like "guaranteed returns" and "low investment, high returns," which are often associated with illegal financial activities in the gold investment sector [2].

Core Viewpoint - The Shenzhen Municipal Financial Committee has issued a warning regarding illegal financial activities in the gold trading sector, highlighting the risks associated with fraudulent schemes disguised as gold investment opportunities [1][2]. Regulatory Framework - China implements a licensing system for financial businesses, prohibiting any organization or individual from engaging in financial activities without approval from national financial regulatory authorities [2]. - Relevant laws and regulations specify that futures trading must occur on legally established exchanges, and only qualified financial institutions can conduct gold asset management [2]. Industry Concerns - Various gold jewelry dealers and stores are not recognized as financial institutions and lack the qualifications to engage in gold asset management or public deposit solicitation [3]. - The public is urged to be cautious and avoid falling for misleading investment pitches that promise guaranteed returns or high interest rates [3]. Recent Incidents - In mid-September, reports emerged of over ten gold merchants in Shenzhen's Shui Bei area facing operational issues, with some having disappeared, raising concerns about their business practices [3][4]. - On October 11, the Shenzhen Gold Jewelry Association issued a warning about three companies involved in illegal gambling activities disguised as gold trading, leading to criminal charges against their executives [4].