黄金价格，再度迎来爆发。 10月4日，COMEX黄金期货收涨1.14%，报3912.1美元/盎司，本周累计上涨3.23%，年 内已涨超48%。现货黄金报收3886.47美元 /盎司，年内也已涨超48%。 国内金饰 价格再创新高 黄金周金饰品消费热度不减 与此同时，10月4日，国内多个金饰品牌金饰克价再创新高。 周生生足金饰品每克1136元，周大福每克1129元，老凤祥每克1131元。 周生生 (how Sang Sang EMPHASIS 周生生 PROMESSA MINTYGREEN MARCO BICEGO 劳力士 帝舵表 最後更新时间: 2025-10-04 09:33:33 金价（人民币） 足金饰品 (每克 ) 卖出 ¥1136 换金价 ¥990 ¥990 换珠宝价 卖出 ¥647 950铂金饰品 (每克 ) 公众程9 江苏新闻 换金价 CHOW TAI FOOK 周 大 福 南通周大福门店销售施女士对记者表示，金价持续走高后，"一口价"金饰品的销量表现亮 眼。目前已确认"一口价"黄金产品将于十月开始陆续加价，调价幅度或达到30%。 在施女士看来，不少前来购金的年轻人预算有限，为了在有限的预算里挑到心 ...

Core Viewpoint - The international gold price has surged significantly, reaching new historical highs, driven by various economic factors including the Federal Reserve's interest rate cuts and concerns over U.S. government debt sustainability [2][9]. Price Movements - As of October 1, spot gold prices rose to over $3,890 per ounce, with London gold reaching a peak of $3,895 per ounce, marking a new historical high [1]. - In September, the international gold price increased by 10.16%, the largest monthly gain since August 2011 [2]. - On October 1, the price of gold jewelry from major brands in China saw increases, with Chow Tai Fook and Chow Sang Sang raising prices by 6 yuan per gram, while Chow Sang Sang's gold jewelry was priced at 1,130 yuan per gram [3][4]. Market Demand - Despite rising gold prices, demand for gold jewelry remains strong, particularly ahead of the upcoming holiday season, with consumers purchasing gold for gifts and celebrations [4]. - The number of financial products linked to gold has increased, with approximately 50 such products available in the market as of September 29 [5]. Future Price Predictions - Analysts from BMO Capital Markets have raised their forecasts for gold prices, predicting an average price of $3,900 per ounce in the last quarter of 2025, an 8% increase from previous estimates, and $4,400 per ounce in 2026, a 26% increase [9]. - UBS has also expressed a bullish outlook on gold, forecasting prices to reach $4,200 per ounce by mid-2026, citing factors such as a weakening dollar and increased central bank purchases [9].

Group 1 - The price of gold jewelry in China has increased significantly, with current prices reaching 1128 RMB per gram for Chow Sang Sang, up by 17 RMB from the previous day [1] - The spot gold price has also hit a new high, surpassing 3840 USD per ounce [1] - The price for Lao Miao gold jewelry is currently 1108 RMB per gram [1] Group 2 - The prices for various gold products in Shanghai are as follows: 1108 RMB for pure gold jewelry, 470 RMB for platinum jewelry, and 1063 RMB for gold bars [4]

Group 1 - On September 23, 2025, gold prices varied slightly among major brands, with all brands' gold jewelry purity reaching 99.9% [1] - Chow Tai Fook and Luk Fook Jewelry priced their gold products at 1085 yuan per gram, while Chow Sang Sang set a slightly higher price at 1090 yuan per gram [1][4] - Other brands like King Fook and Xie Rui Lin also priced their gold at 1085 yuan per gram, maintaining consistency with Chow Tai Fook and Luk Fook Jewelry [1] Group 2 - Various gold shops displayed a wide range of gold prices on the same day, indicating a competitive market [2] - The lowest gold price was offered by Zhou Liufu at 1044 yuan per gram, while Cai Bai priced their gold at 1045 yuan per gram [7][8] - The highest gold price among the listed brands was set by Chow Sang Sang at 1090 yuan per gram [4] Group 3 - Financial institutions offered more stable gold bar prices compared to the fluctuating gold jewelry market, providing an alternative asset allocation for investors [16] - The price of gold bars from major banks ranged from 831 yuan per gram at the Shanghai Gold Exchange to 869 yuan per gram at China Gold [22][23] - Agricultural Bank's "Chuan Shi Zhi Bao Gold Bar" was priced at 864.27 yuan per gram, which was slightly higher than other state-owned banks [19] Group 4 - In the T D (deferred delivery trading) market, gold and silver showed more active price movements, with gold prices experiencing significant fluctuations [28] - The latest transaction price for Au T D gold was 834.57 yuan per gram, with a daily increase of 9.37 yuan, reflecting a 1.14% rise [28] - Silver prices surged dramatically, with Ag T D silver reaching 101731 yuan per kilogram, marking a substantial daily increase of 2712.74 yuan [28] Group 5 - Recent international gold prices have been notably strong, reaching a historical high of 3707.40 USD per ounce following a 25 basis point rate cut by the Federal Reserve [31] - Despite a slight pullback, gold prices remained robust, closing at 3684.93 USD per ounce, marking a cumulative increase of 1.15% over five consecutive weeks [31] - The current bull market in gold is characterized by a nearly 40% increase in price since the beginning of the year, a remarkable performance compared to historical trends [33]

Group 1 - International gold prices reached a new high, with COMEX gold futures hitting $3824.60 per ounce on September 23, closing at $3796.90, a 0.42% increase [1] - The London spot gold price also set a new intraday high at $3791.08 per ounce on the same day [1] - Since September, international gold prices have risen approximately 9%, with a year-to-date increase exceeding 40% [2] Group 2 - Domestic gold jewelry prices are expected to reach new highs, with weekly gold jewelry prices from Zhou Shengsheng hitting 1100 RMB per gram, a 10 RMB increase from the previous day [2] - Federal Reserve Chairman Jerome Powell indicated that the risks to the job market are increasing, which was a key reason for the recent interest rate cut [2] - More than half of Federal Reserve officials expect at least two more rate cuts this year, suggesting potential actions in October and December [2] Group 3 - Morgan Stanley's latest report predicts that spot gold prices will exceed $4000 per ounce by Q1 2026, with potential for prices to reach $5000 if the independence of the Federal Reserve is challenged [5] - The primary driver of the current gold price surge has shifted from central bank demand to investor demand, with a significant inflow into gold ETFs due to declining U.S. Treasury yields [5] - Goldman Sachs maintains a target price of $3700 per ounce for gold by the end of 2025 and $4000 by mid-2026, noting the possibility of prices exceeding $4500 per ounce [5]

Core Insights - The international gold price reached $3682.2 per ounce on September 18, 2025, leading to a domestic gold recovery price of 822 yuan per gram [1] - The recovery price is uniform regardless of gold purity, affecting both high-purity and common gold [1] - Different types of gold jewelry have varying recovery prices based on their purity levels [2][3] Recovery Prices - 22K gold (91.6% purity) has a recovery price of 718 yuan per gram [2] - 18K gold (75% purity) and 14K gold (58.5% purity) have recovery prices of 592 yuan and 458 yuan per gram, respectively [3] Retail Prices - Retail prices for new gold jewelry vary significantly across brands, with Chow Sang Sang pricing gold at 1092 yuan per gram, targeting high-end customers [6] - Major brands like Chow Tai Fook and Luk Fook set their prices at 1087 yuan per gram, while Lao Feng Xiang and Lao Miao are slightly lower at 1086 yuan [7][8] - Some brands, like Zhou Silu, offer more competitive prices at 1048 yuan per gram for gold and 943 yuan for gold bars [10] - Lower-priced options are available at Sun Gold Store and Qilu Gold Store, with prices at 919 yuan and 906 yuan per gram, respectively [11] Investment Gold Prices - Investment gold bars sold by banks and specialized institutions have more realistic pricing, with Shanghai Gold Exchange quoting 835 yuan per gram [15] - Major banks offer gold bars at prices around 850 yuan, with Agricultural Bank at 850.20 yuan and Construction Bank at 852.10 yuan [15] - Higher prices are noted for investment gold bars from China Gold Investment Company at 873.50 yuan per gram [15] Market Dynamics - The recent surge in gold prices is attributed to a lack of trust in the Federal Reserve, with analysts suggesting that political and trade risks drive demand for gold [18] - Analysts express caution regarding the sustainability of high gold prices, indicating potential declines if global market conditions improve [18] - The domestic gold market appears less volatile compared to international markets, suggesting a more cautious consumer sentiment [18]

Core Viewpoint - International gold prices have reached new historical highs due to multiple factors, including expectations of interest rate cuts by the Federal Reserve, a weakening dollar, increased gold purchases by global central banks, and heightened geopolitical uncertainties [1][4]. Group 1: Gold Price Trends - As of September 16, the spot gold price reached $3,694.87, with an intraday high of $3,697.07, marking a record high [2]. - The cumulative increase in international spot gold prices has exceeded 40% this year [4]. - The latest surge in gold prices began on August 20 and has been characterized by continuous new highs [4]. Group 2: Domestic Market Impact - Domestic gold jewelry prices have also risen, with brands like Chow Sang Sang and Lao Feng Xiang reaching their highest prices of the year [2]. - On September 16, Chow Sang Sang's gold price was 1,091 RMB per gram, up 17 RMB from the previous day; Lao Miao's gold was 1,087 RMB per gram, up 13 RMB; and other brands like Chow Tai Fook and Luk Fook Jewelry were at 1,087 RMB per gram, up 9 RMB [2]. Group 3: Market Dynamics and Predictions - Analysts note that the weak U.S. employment data, particularly the non-farm payrolls, has reinforced expectations for a rate cut in September, further driving up gold prices [4]. - Goldman Sachs' commodity team predicts that gold could reach $4,000 per ounce within the next 12 months, citing a long-term trend of diversification among global investors [4]. - Financial institutions, including major banks in China, are adjusting their precious metals business and increasing investment thresholds in response to heightened market volatility [5][6].

Core Viewpoint - The trade relationship between the United States and India shows signs of easing tensions as new rounds of bilateral trade agreement negotiations have resumed, despite previous high tariffs imposed by the U.S. on Indian imports [2][4][6]. Group 1: Trade Negotiations - On September 16, 2023, the U.S. and India restarted negotiations for a bilateral trade agreement in New Delhi, marking a positive signal in their previously strained relationship [2][4]. - The U.S. delegation, led by Brendan Lynch, aims to engage with Indian officials to discuss trade agreements, although specific details of the talks were not disclosed [4][6]. - The negotiations were initially scheduled for late August but were postponed due to the U.S. imposing additional tariffs on Indian goods [5][6]. Group 2: Impact of Tariffs - The U.S. has imposed a total tariff rate of 50% on Indian imports, significantly affecting trade dynamics, with India's exports to the U.S. dropping from $8.01 billion in July to $6.86 billion in August [2][10]. - India's overall exports fell to $35.1 billion in August, the lowest in nine months, with a trade deficit narrowing to $26.49 billion [10]. - The high tariffs have led to predictions that India's exports to the U.S. could decrease by over 40% by 2026, potentially falling to around $50 billion [10][11]. Group 3: Economic Consequences - The tariffs are expected to impact various sectors, particularly textiles, jewelry, and gems, with estimates suggesting that around $8 billion worth of Indian exports could be affected [11]. - The economic slowdown due to tariffs may result in a reduction of India's GDP growth by 0.5% to 1% [10]. - The imposition of tariffs has raised concerns about job losses in affected industries, with potential risks to tens of thousands of jobs [11].

Core Viewpoint - International gold prices have reached new historical highs, driven by multiple factors including economic conditions and geopolitical uncertainties [1][5]. Group 1: International Gold Prices - As of September 16, the spot gold price reached $3,694.87, with an intraday high of $3,697.07, marking a record high [1]. - The cumulative increase in international spot gold prices this year has exceeded 40% [5]. Group 2: Domestic Gold Prices - Domestic gold jewelry prices have surged, with brands like Chow Sang Sang and Lao Miao reaching their highest prices of the year. On September 16, Chow Sang Sang's gold price was 1,091 yuan per gram, up 17 yuan from the previous day [3]. - Other brands such as Lao Miao and Chow Tai Fook also saw price increases, with Lao Miao at 1,087 yuan per gram, up 13 yuan [3][4]. Group 3: Market Influences - Factors contributing to the rise in gold prices include expectations of interest rate cuts by the Federal Reserve, a weakening dollar, increased gold purchases by global central banks, and heightened geopolitical uncertainties [5]. - Recent data indicating a weak U.S. job market, particularly a non-farm payroll increase of only 22,000, significantly below the expected 75,000, has reinforced the outlook for interest rate cuts [5]. Group 4: Institutional Responses - Major banks in China, including Bank of China and Agricultural Bank of China, have adjusted their precious metals business, increasing investment thresholds and modifying margin requirements due to heightened market volatility [7]. - These adjustments reflect financial institutions' proactive risk management strategies aimed at protecting investors and preventing speculative trading [7]. Group 5: Future Outlook - Goldman Sachs' commodity team predicts that gold could reach $4,000 per ounce within the next 12 months, driven by a long-term trend of diversification among global investors [5]. - The future trajectory of gold prices will largely depend on the Federal Reserve's policy direction and global risk events, with historical trends indicating that rate-cutting cycles tend to enhance gold's appeal [7].

Group 1: Gold Price Surge - Gold prices reached a record high of $3674.27 per ounce on September 12, surpassing the previous peak of $850 per ounce set in January 1980, adjusted for inflation [1] - Gold prices have increased approximately 5% this month and nearly 40% year-to-date [2] - The surge in gold prices has prompted several banks, including Bank of China and Agricultural Bank of China, to raise investment thresholds and adjust margin requirements for precious metals trading [3] Group 2: Factors Driving Gold Prices - Multiple factors, including tax and tariff policies from the Trump administration and challenges to the independence of the Federal Reserve, have diminished the attractiveness of the US dollar and US Treasury bonds, leading to increased investment in gold [4] - Gold is seen as a hedge against inflation and currency devaluation, a role it has played for centuries [4] - Central banks have been diversifying their foreign reserves, with gold now being the second-largest reserve asset globally, surpassing the euro [5] Group 3: Market Dynamics and Predictions - Analysts suggest that the current gold price rally is characterized by lower volatility compared to the 1980s, attributed to enhanced market liquidity and the accessibility of gold through ETFs [4] - Goldman Sachs predicts that gold prices could reach $3700 by the end of 2025 and potentially exceed $4000 by mid-2026, with a possibility of hitting $4500 to $5000 if there is a significant outflow from dollar assets [4] Group 4: New Product Launches in Jewelry Sector - Pop Mart's jewelry brand popop has launched its first gold product line, featuring items priced between ¥980 and ¥56,800, with a per gram price exceeding ¥1300 [6][8] - The pricing strategy for popop's gold products differs from traditional gold brands, opting for a fixed price model rather than a combination of gold price and processing fees [8] - The new gold jewelry line is part of popop's strategy to expand into the jewelry market, previously focusing on lower-value materials [14]