以下文章来源于20社 ，作者罗立璇 贾阳 20社 . 关注年轻人的钱包、工作和生活。 来源丨20社（ID： quancaijing_20she ） 作者丨 罗立璇 贾阳 图源丨泡泡玛特官方微博 泡泡玛特正在向潮玩以外的多个行业伸出触角。除了已经在上海恒隆、北京国贸开设门店的独立珠宝 品牌POPOP以外，近日，泡泡玛特还被发现正在招聘和家电相关的行业专家。 此外，泡泡玛特也成立了电影工作室，注册了剧集版权，要开发自己的剧集和大电影。按照以往IP的 发展节奏，一般都是自己主控主业，产品则进行授权或者联名合作处理，为什么泡泡玛特都要自己做 呢？ 首饰其实是一个聪明的选择 首先，必须要说的是，我们认为选择珠宝首饰进行新的IP扩维尝试，是一个聪明的选择。 Labubu虽然很红，但真正让她破圈爆红的产品系列，其实是毛绒挂件。当各路明星把玩偶挂在身 上、尤其是奢侈品包袋上带出去"炫耀"时，风潮才有形成的可能。而首饰作为随身携带的穿搭亮点， 也是同理。 当然，具体产品应该怎么设计，从目前的呈现来看，大家的意见并不统一。 POPOP目前走的是时尚轻奢首饰风格，以S925银、贝珠、锆石等便宜的基础材料为主，定位于轻奢 品牌，价格 ...

Group 1: Gold Price Trends - Gold prices reached a historical high in Q2, with a more than 25% increase over the past six months, and spot gold was reported at $3342.80 per ounce as of July 4 [1] - Analysts predict that gold prices may face pressure in the second half of 2025 due to weakening demand and increasing supply, despite ongoing support from geopolitical risks, central bank purchases, and a weakening dollar [1][3] Group 2: Central Bank Gold Purchases - Central banks have been accumulating gold to hedge against inflation and diversify assets, with global central bank net gold purchases exceeding 1000 tons for the third consecutive year [2] - In the first four months of 2025, central banks net purchased 256 tons of gold, maintaining high demand levels [2] - China's gold reserves increased to approximately 2296.37 tons as of May 2025, marking a continuous increase for seven months [3] Group 3: Market Dynamics and Alternatives - The rising gold prices have led jewelers to diversify into platinum, which has seen a price increase of over 30% this year, reflecting strong demand in the jewelry market, particularly in China [4][5] - Analysts suggest that even a small shift in demand from gold jewelry to platinum could significantly increase the supply gap for platinum [6] Group 4: Investment Opportunities - The gold sector has shown strong performance, with COMEX gold futures up 26.89% year-to-date, and several Hong Kong gold and jewelry stocks have surged over 100% [7] - Investors are advised to consider a long-term holding strategy for gold, as it may provide good returns despite short-term volatility [8]

Core Viewpoint - The recent fluctuations in gold prices have raised questions among potential buyers regarding the best time to purchase gold, whether for investment or personal use [1][3]. Current Gold Price Situation - Gold prices are currently experiencing high volatility, with retail prices for various brands exceeding 1005 yuan per gram. For instance, brands like Chao Hong Ji, Jin Zhi Zun, and Liu Fu Jewelry have prices above this threshold, while others like Zhou Liu Fu offer lower prices at 978 yuan per gram [1][3]. - Platinum prices are around 569 yuan per gram, with some brands like Zhou Liu Fu priced slightly higher at 574 yuan. Notably, there are significant price differences among brands, with some gold bars priced as low as 890 yuan per gram [1][3]. Reasons for Rising Gold Prices - The continuous rise in gold prices is attributed to several factors, including increased geopolitical risks and complex global economic conditions, which have heightened demand for gold as a safe-haven asset [3][6]. - Persistent inflation expectations have also driven up the demand for gold, reinforcing its status as a traditional store of value [3][6]. Investment Strategies - Different purchasing purposes require tailored investment strategies. For wedding or gift purchases, consumers are advised to focus on brands that offer better value for money and to be mindful of craftsmanship and brand premiums [7]. - For long-term value preservation, a phased purchasing strategy is recommended to mitigate risks associated with market volatility [7][11]. - Short-term speculative investments in gold are discouraged due to the inherent risks associated with frequent price fluctuations [7][11]. Recommended Gold Products - For value preservation, brands like Cai Bai and Zhou Sheng Sheng are recommended for their lower gold bar prices and strong liquidity [8]. - For gifts, brands such as Chao Hong Ji and Zhou Da Sheng offer a variety of gold jewelry suitable for gifting or daily wear [8]. - For consumers with limited budgets, lower-priced platinum options from brands like Lao Feng Xiang and Lao Miao are suggested [9]. Future Price Outlook - The current high volatility in gold prices is expected to persist in the short term, with a low likelihood of significant declines. A phased purchasing strategy is advised to average costs and reduce risks [11]. - Long-term, gold remains a viable asset for countering inflation and currency depreciation [11]. Conclusion - Rational investment in gold should be based on individual needs and risk tolerance. Urgent purchases for weddings or gifts should be made promptly, while long-term value seekers can benefit from a gradual buying approach [12].

Group 1: Platinum Market - Platinum prices have surged significantly, reaching 324.09 CNY per gram by June 30, 2025, marking a 45.28% increase since the beginning of the year, far exceeding gold's less than 10% rise during the same period [2] - The price gap between platinum and gold has narrowed, with platinum now able to be exchanged for 0.65 grams of gold, compared to only 0.3 grams in 2020, indicating a more than double increase in the price ratio [2] - The World Platinum Investment Council reported a 140% increase in demand for platinum bars and coins in China during Q1 2025, surpassing North America and making China the largest investment market for platinum [2] Group 2: Jewelry Market - Despite the soaring platinum prices, sales of platinum jewelry have not seen significant growth, with brands like Chow Sang Sang and Chow Tai Fook raising prices by nearly 80% without a corresponding increase in consumer purchases [3] - Platinum's position in the jewelry market is weak, with only 18% of global platinum consumption used for jewelry, compared to 80% for gold, leading consumers to prefer gold or diamonds due to better perceived value and liquidity [3] - Consumers have expressed dissatisfaction with the resale value of old platinum jewelry, which is often only one-third of the original price, contributing to the perception of platinum as a "depreciation king" [3] Group 3: Gold Market - The gold market has shown stability with slight price increases; as of July 2, 2025, gold prices for various brands ranged from 995 CNY to 1000 CNY per gram, reflecting increases of 9 to 15 CNY [4] - Bank gold bar prices have also adjusted, with prices from major banks like ICBC and ABC ranging from 780.77 CNY to 786.90 CNY [4] Group 4: International Market - In the international market, spot gold was priced at 3316.59 USD per ounce, showing a slight increase of 0.42%, while platinum and silver prices experienced declines [5] - Spot platinum was reported at 1341.10 USD per ounce, down 1.15%, and spot palladium rose by 0.74% to 1110.00 USD per ounce [5] Group 5: Gold Recycling Prices - Recent trends in gold recycling prices have shown fluctuations between 750 CNY and 768 CNY per gram, with a slight decrease noted on July 1, 2025, when the recycling price was 755 CNY per gram [6] Group 6: Conclusion - The precious metals market as of July 2, 2025, is characterized by a significant rise in platinum prices alongside a modest increase in gold prices, highlighting the strong demand for platinum in industrial and investment sectors, while revealing the challenges faced in the jewelry market [7]

作 者丨张晓慧 编 辑丨孙超逸 把国际奢侈品当作"对家"，老铺黄金（6181.HK）涨疯了。 几天前，"古法黄金第一股"老铺黄金股价突破1000港元/股，创下历史新高。Wind数据显示， 今年年内其股价涨幅已超300%。截至7月4日， 老铺黄金报收995港元/股，最新市值1718亿港 元。 业绩说明会上，老铺黄金创始人徐高明更是发出豪言： 老铺黄金对标高奢品牌，未来平均店 效要超过10亿元，店效低于5亿元的店面将被关掉。 2024年，老铺黄金平均店效超过2亿元，超过一些奢侈品牌在中国内地门店的销售业绩。不 过，老铺黄金距离成为真正的国际奢侈品，还有相当长的路要走。 封"奢"路遥 老铺黄金从不掩饰自己的野心，其上市后的首份年报中写道：成为与国际奢侈品对位竞争的中 国高端品牌。 佐证这一说法的一个证据是"坪效"。老铺黄金2024年财报显示，截至2024年底，老铺黄金共 开设36家自营门店，门店销售业绩为85.3亿元，平均店效（即平均每个店铺销售业绩）约为 2.4亿元；按照弗若斯特沙利文资料，老铺黄金在中国内地的单个商场平均收入、坪效超过了 几乎所有国际、国内知名珠宝品牌。 今年4月的业绩说明会上，其执行董事兼副总 ...

编号：20250702 投资者关 系活动类 别 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □√ 现场参观 □ 一对一沟通 □其他 参与单位 名称及人 员姓名 中信证券、信达证券、大成基金、国投瑞银、华安基金、 淡水泉投资等 13 人 时间 2025 年 7 月 2 日 地点 公司会议室 上市公司 接待人员 董事会办公室 投资者关 系活动主 要内容介 绍 一、参观公司展厅及臻宝博物馆； 二、问答环节： 各方还就开店情况、海外门店情况、珠宝产品系列情况、新品 规划情况、产品结构情况、电商业务等内容进行了交流，可参阅公 司已披露公告、互动平台问答和前次活动记录表之问答。 交流过程中严格按照有关制度规定，没有出现未公开重大信 息泄露等情况。 附件清单 无 | | | 证券代码：002345 证券简称：潮宏基 广东潮宏基实业股份有限公司投资者关系活动记录表 ...

Price Trends - The overall gold price in the domestic market remains above 1000 yuan per gram, with specific prices from various brands showing slight fluctuations [1][4] - The highest price is from Liufu Gold at 1005 yuan per gram, while the lowest is from Shanghai China Gold at 969 yuan per gram, resulting in a price difference of 36 yuan per gram [1][3] Brand Price Summary - Liufu Gold: 1005 yuan/gram (no change) [1] - Zhou Dafu: 1005 yuan/gram (no change) [1] - Zhou Liufu: 985 yuan/gram (up 7 yuan) [1] - Lao Miao: 999 yuan/gram (down 3 yuan) [1] - Lao Fengxiang: 1003 yuan/gram (down 3 yuan) [3] - Chao Hongji: 1005 yuan/gram (no change) [3] - Zhou Shengsheng: 1004 yuan/gram (down 6 yuan) [3] - Cai Bai: 978 yuan/gram (no change) [3] - Shanghai China Gold: 969 yuan/gram (no change) [3] International Market Influence - The recent U.S. non-farm payroll data exceeded expectations, reducing the likelihood of a near-term interest rate cut by the Federal Reserve, which has strengthened the dollar and put pressure on gold prices [6] - As of the latest report, spot gold is trading at 3342.15 USD/ounce, reflecting a 0.48% increase [6] - The market is closely monitoring the implications of U.S. tariff announcements, which could have both short-term negative and long-term positive effects on gold [6]

21世纪经济报道记者 张晓慧 深圳报道 把国际奢侈品当作"对家"，老铺黄金（6181.HK）涨疯了。 几天前，"古法黄金第一股"老铺黄金股价突破1000港元/股，创下历史新高。Wind数据显示，今年年内 其股价涨幅已超300%。 业绩说明会上，老铺黄金创始人徐高明更是发出豪言：老铺黄金对标高奢品牌，未来平均店效要超过10 亿元，店效低于5亿元的店面将被关掉。 2024年，老铺黄金平均店效超过2亿元，超过一些奢侈品牌在中国内地门店的销售业绩。不过，老铺黄 金距离成为真正的国际奢侈品，还有相当长的路要走。 封"奢"路遥 老铺黄金从不掩饰自己的野心，其上市后的首份年报中写道：成为与国际奢侈品对位竞争的中国高端品 牌。 佐证这一说法的一个证据是"坪效"。老铺黄金2024年财报显示，截至2024年底，老铺黄金共开设36家自 营门店，门店销售业绩为85.3亿元，平均店效（即平均每个店铺销售业绩）约为2.4亿元；按照弗若斯特 沙利文资料，老铺黄金在中国内地的单个商场平均收入、坪效超过了几乎所有国际、国内知名珠宝品 牌。 今年4月的业绩说明会上，其执行董事兼副总经理冯建军再次强调，老铺黄金在国内单个商场平均收 入、坪效远超国 ...

国内金饰价格持平昨日 金十数据7月4日讯，金十图示：国内多家黄金珠宝品牌公布的境内足金首饰价格较持平昨日，多家报1005元/克。 | | 周大生足金999 | 1005 元/克 | | --- | --- | --- | | િ 第百货站 | 菜百首饰足金999饰品 | 982 元/克 | | 潮后其 | 潮宏基足金(首饰摆件) | 1005 元/克 | | TSL 謝瑞顏 | 谢瑞麟足金饰品 | 1005 元/克 | | 3 3 1 6 1 | 金至尊足金999 | 1005 元/克 | | 周六福 | 周六福足金999 | 985 元/克 | @ JIN10.COM G.C 金十数据 | 一个交易工具 ...

Group 1: International Gold Market Dynamics - Recent fluctuations in global financial markets have led to a significant drop in international gold prices, with spot gold falling below $3250 per ounce, marking a new low in nearly a month [1] - The decline in international gold prices has not resulted in a uniform collapse in the domestic market, instead revealing a complex situation of price differentiation [1] Group 2: Domestic Gold Pricing Trends - In the domestic market, well-known jewelry brands such as Chow Tai Fook and Luk Fook maintain high gold prices, with prices reaching 989 CNY per gram for both brands [2] - Other brands like Chow Sang Sang and Lao Feng Xiang show slight price variations, with Chow Sang Sang at 985 CNY per gram and Lao Feng Xiang at 987 CNY per gram [2] - The overall pricing for gold jewelry remains elevated, with other brands also fluctuating between 984 CNY and 989 CNY per gram [2] Group 3: Bank and Exchange Price Movements - Major banks exhibit price discrepancies for gold bars, with prices ranging from 772 CNY to 778.40 CNY per gram across different banks [3] - The Shanghai Gold Exchange reported a decline in AuT D prices to 759.88 CNY per gram, reflecting a drop of 0.80% from the previous day [3] - Silver T D prices also experienced a decline, dropping by 112 CNY per kilogram, indicating a broader market reaction to international gold price movements [3] Group 4: Collectibles and Recovery Market - The 2025 Panda gold coin prices demonstrate the independence of the collectibles market, with prices reaching as high as 480,000 CNY, showing resilience against short-term fluctuations in international gold prices [4] - The gold recovery market remains stable, with gold recovery prices ranging between 750 CNY and 753 CNY per gram, indicating consistent demand for recycled gold [4] Group 5: Analysis of International Gold Price Decline - The recent drop in international gold prices is attributed to uncertainties regarding Federal Reserve interest rate cuts and technical sell-offs triggered by prices falling below the 50-day moving average [6] - Market volatility has been exacerbated by large institutional investors engaging in "wash trading" or "profit-taking" at high price levels [6] - Future gold price trends will be influenced by the policy dynamics between the Trump administration and the Federal Reserve, as well as changes in the global economic landscape [6]