Core Viewpoint - The recent sharp decline in gold prices, driven by Wall Street's strategic selling during low liquidity hours, highlights the growing shift of physical gold towards Shanghai, indicating a loss of influence for Wall Street in the gold market [1][2][11]. Group 1: Market Dynamics - Wall Street executed a significant sell-off of paper gold contracts during Asian market hours, resulting in a rapid drop of $500 in gold prices, equivalent to 3500 RMB, causing panic among investors [1] - The Federal Reserve's hawkish comments and the Chicago Mercantile Exchange's increase in gold trading margins forced many leveraged investors to liquidate their positions, further driving down prices [2] - The current gold market is characterized by a shift away from reliance on paper gold contracts, with increasing demand for physical gold, particularly in Shanghai [4][11]. Group 2: Global Gold Trends - Central banks, including China's, are accumulating physical gold, with China's reserves surpassing 2305 tons and over 70% of global central banks planning to increase their gold holdings in the next five years [4][10] - The Shanghai Gold Exchange is becoming a preferred destination for global capital seeking to avoid dollar risks, offering secure transactions and bypassing Western financial systems [6][10] - The average gold price during Asian trading hours is 0.7% higher than during Western hours, indicating strong demand for physical gold in Asia and a shift in pricing power from the West to the East [11]. Group 3: Implications for Investors - The recent volatility in gold prices serves as a reminder for investors to avoid speculative trading in paper gold and instead focus on tangible assets like physical gold for value preservation [12] - The ongoing accumulation of gold in Shanghai reflects a broader trend of diminishing dollar dominance and the rising financial influence of Eastern markets [12][13].

（原标题：刚刚，官宣了！这家黄金平台，已启动兑付） 【导读】罗湖区工作专班：水贝黄金平台杰我睿公司已启动兑付 中国基金报 晨曦 综合整理 企查查信息显示，杰我睿成立于2014年，主营业务为有色金属及矿石批发。该公司原为水贝地区黄金原 料交易商，从上游供货方采购、回收黄金原料，向下游小商户供货。近年来，杰我睿业务逐步转向贵金 属零售，并向散户开放黄金预定价交易，也因此扩大了风险敞口。 多名投资者称，自2026年1月20日起，杰我睿线上平台就已无法正常提现。自2026年1月21日起，平台将 每日提现额度限制为500元人民币与1克黄金，至今仍无法提取任何资金。 据红星新闻，有用户介绍称，杰我睿预定价最低时，仅需20余元，就可锁定一克黄金，杠杆高达40倍左 右。而同期上海黄金交易所黄金合约保证金比例约为14%，期货公司还要额外加收2%—5%的手续费， 同样锁定一克黄金所需保证金至少需要144元。 另外，杰我睿在平台停止正常兑付前的1月17日还推出了优惠活动，声称1月24日举行"一年一次免工费 活动"，吸引了大量用户提前寄送黄金或充值购买黄金。杰我睿相关交易平台关闭前，还曾显示有5万多 名用户排队等待打款。 1月28日 ...

杰我睿最新消息！ 据深圳新闻网，1月31日，罗湖区工作专班发布情况通报称，在工作专班督促下，杰我睿公司处置资产、筹集资金，已启动兑付。 通报称，杰我睿公司已开通线上签约兑付渠道，并设立线下接洽办理点。在工作专班监督下，杰我睿公司已委托第三方专业机构对公司经营情况进行审 计。初步结果显示，网传金额明显夸大。相关部门正对各类线索进行核查，将依法依规处理。 此外，罗湖区工作专班再次强调，请广大公众不信谣、不传谣，共同维护良好的社会秩序与网络环境。 此前相关报道： 据第一财经，近日杰我睿名下的"杰我睿珠宝"及多个关联的线上平台"龙冶金""金城金世界"均出现了兑付困难，波及众多投资者。 企查查信息显示，杰我睿成立于2014年，主营业务为有色金属及矿石批发。该公司原为水贝地区黄金原料交易商，从上游供货方采购、回收黄金原料，向 下游小商户供货。近年来，杰我睿业务逐步转向贵金属零售，并向散户开放黄金预定价交易，也因此扩大了风险敞口。 多名投资者称，自2026年1月20日起，杰我睿线上平台就已无法正常提现。自2026年1月21日起，平台将每日提现额度限制为500元人民币与1克黄金，至今 仍无法提取任何资金。 一、兑付情况说明 ...

Core Viewpoint - The recent sharp decline in gold prices and the weakening of the US dollar pose significant threats to those benefiting from the Western financial system, indicating a potential shift in global financial dynamics [2][6]. Group 1: Gold Price Dynamics - International gold prices have surged dramatically over the past year, with over 50 new historical highs in 2025 and a more than 60% increase in London spot gold prices [4]. - The US dollar index fell from 108 to 98 in 2025, marking a cumulative decline of 9.4%, the worst performance in eight years [4]. - The recent drop in gold prices was a premeditated action by Wall Street, triggered by the extreme rise in gold prices and the significant decline in the dollar, which threatened the Western financial system [2][6]. Group 2: Wall Street's Response - Wall Street's aggressive sell-off of gold was a desperate measure to protect the dollar's dominance, taking advantage of the Chinese market's inactivity during the night [6]. - Previous attempts to control gold prices through increased margin requirements were ineffective, leading to this large-scale sell-off as a last resort [6]. - The immediate effect of the sell-off was a temporary rebound in the dollar index, but this rebound is considered unsustainable and artificial [8]. Group 3: Declining Trust in the Dollar - The trust in the US dollar among global central banks has sharply declined, with a notable shift towards gold, as evidenced by gold surpassing US Treasury bonds in central bank reserves for the first time since 1996 [4][15]. - The US government's rising debt, which is approaching $39 trillion and exceeds 120% of GDP, raises concerns about the dollar's stability [12]. - Political instability in the US has led to a lack of confidence in the dollar, with 70% of surveyed investors expressing concerns about investing in dollar-denominated assets [13]. Group 4: Global De-dollarization Trend - The dollar's share in global foreign exchange reserves has fallen below 60% for over ten consecutive quarters, reaching a low of 56.92% in Q3 2025, the lowest since 1995 [15]. - Central banks have increased their gold holdings by 634 tons in the first three quarters of 2025, indicating a clear trend towards de-dollarization [15]. - The establishment of alternative financial systems, such as China's CIPS, is facilitating a shift away from the dollar, providing countries with a means to conduct trade without US control [19][21]. Group 5: Capital Movement to Shanghai - The influx of gold into Shanghai is a reflection of global capital seeking safety and reliability outside the US financial system [16][18]. - The preference for physical gold over paper gold is growing, as investors prioritize tangible assets amid increasing volatility in financial markets [19]. - The trend of capital moving towards Shanghai highlights a broader desire for a more equitable and stable financial order, signaling a shift in the global economic landscape [21].

日前，深圳"杰我睿珠宝"黄金兑付危机引发市场关注。有媒体报道，该平台提现已经受限。在杰我睿平台出现兑付危机后， "云点当""融通金""宝妈买 金"等同类平台的小程序被相继暂停，不过"融通金"已启动备用方式维持正常运营。 有分析称，在这场黄金兑付风波中，危机核心是"预定价"模式，其本质为无实物支撑的高杠杆黄金对赌。此前已有 同类平台出现兑付困难，这类平台多 无金融资质、缺乏监管，价格波动下易失控。 杰我睿早先为深圳水贝地区黄金原料交易商，近年来开始转型贵金属零售，并向消费者开放黄金"预定价"交易，主攻无实物约价回收、贵金属寄存及首饰 销售，平台风险由此不断积压。 在杰我睿兑付危机爆发后， 其小程序"杰我睿珠宝"已经被暂停使用，多个关联的线上平台"龙冶金""金城金世界"，均无法从微信小程序中搜索到。 在杰我睿出现兑付危机后，多家类似的黄金交易平台小程序同样被暂停使用。在社交媒体上，多位消费者反映"云点当""宝妈买金"等黄金交易平台小程序 已被暂停使用，其中"云点当"小程序已无法进入。 "宝妈买金"已经因违规被暂停服务，暂停理由为账号"所选类目与小程序运营内容不符合"。 编辑：陈婧琳 校对：李翱 今年1月，中国农业 ...

日前，深圳"杰我睿珠宝"黄金兑付危机引发市场关注。据悉，该平台提现已经受限，全国投资者未结清余额超百亿元。 记者注意到，在杰我睿平台出现兑付危机后，"云点当""融通金"等同类平台的小程序被相继暂停，不过"融通金"已启动备用方式维持正常运营。 在这场黄金兑付风波中，危机核心是"预定价"模式，其本质为无实物支撑的高杠杆黄金对赌。此前已有同类平台出现兑付困难，这类平台多无金融资质、 缺乏监管，价格波动下易失控。 杰我睿平台出现兑付危机 1月28日，深圳市"罗湖发布"的一则公告揭开了一场"黄金兑付危机"。据 显示，深圳市杰我睿珠宝有限公司（以下简称"杰我睿"）经营异常，引发关注。 罗湖区工作专班强调，杰我睿负责人及相关核心管理人员均在岗，积极开展与投资人沟通、资产梳理和兑付等工作。 事实上，早在官方通报之前，杰我睿的兑付危机就已有迹象。2025年12月，多位消费者反映在"杰我睿珠宝"等平台购买的黄金、白银制品出现发货延迟； 2026年1月下旬，杰我睿线上平台无法兑现的事件集中发生，这场兑付危机由此爆发。 兑付危机发生了，杰我睿平台的提现额度同时被限制为每日500元或1克黄金。一位河南郑州的投资者夏先生此前则向记者表示 ...

日前，深圳"杰我睿珠宝"黄金兑付危机引发市场关注。据悉，该平台提现已经受限，全国投资者未结清余额超百亿元。 南都·湾财社记者注意到，在杰我睿平台出现兑付危机后， "云点当""融通金"等同类平台的小程序被相继暂停 ， 不过"融通金"已启动备用 方式维持正常运营 。 在这场黄金兑付风波中，危机核心是"预定价"模式，其本质为无实物支撑的高杠杆黄金对赌。此前已有同类平台出现兑付困难，这类平台 多无金融资质、缺乏监管，价格波动下易失控。 杰我睿平台出现兑付危机 1月28日，深圳市"罗湖发布"的一则公告揭开了一场"黄金兑付危机"。据 罗湖区工作专班的《情况通报》显示 ，深圳市杰我睿珠宝有限公 司（以下简称"杰我睿"）经营异常，引发关注。 罗湖区工作专班强调，杰我睿负责人及相关核心管理人员均在岗，积极开展 与投资人沟通、资产梳理和兑付等工作。 事实上，早在官方通报之前，杰我睿的兑付危机就已有迹象。2025年12月，多位消费者反映在 "杰我睿珠宝"等平台购买的黄金、白银制 品出现发货延迟；2026年1月下旬，杰我睿线上平台无法兑现的事件集中发生，这场兑付危机由此爆发。 兑付危机发生了，杰我睿平台的提现额度同时被限制为每日50 ...

Core Viewpoint - The article discusses the significant rise in gold prices and the establishment of a central clearing system for gold in Hong Kong, which is expected to enhance the region's position as an international financial center and improve the efficiency of gold trading and settlement [1][6][7]. Group 1: Gold Price Surge - As of January 29, 2026, the spot price of gold in London reached a historic high of $5,598 per ounce, with domestic prices in China also rising, as evidenced by the Shanghai Gold Exchange's T+D price reaching 1,243.40 yuan per gram [1]. - The global geopolitical tensions and increased gold purchases by central banks have contributed to this price surge, with the World Gold Council reporting that central banks bought a net total of 634 tons of gold from January to September 2025, with annual purchases expected to be between 750 tons and 900 tons [6][12]. Group 2: Central Clearing System - Hong Kong has lacked a unified central clearing mechanism for gold trading, relying on a bilateral clearing model that has led to high costs and risks [3][5]. - The newly announced central clearing system aims to address these issues by integrating clearing, storage, and trading, thereby enhancing operational efficiency and reducing transaction costs [9][10]. - The system is designed to be government-led with market participation, ensuring a collaborative approach to governance and rule-making [9][10]. Group 3: Market Infrastructure and Collaboration - The Hong Kong government is actively supporting the development of the gold market, including the establishment of storage facilities and the promotion of interconnectivity with the Shanghai Gold Exchange [6][10]. - The collaboration between Hong Kong and Shanghai is expected to create a dual hub for gold trading, enhancing China's influence in the global gold market and facilitating the pricing of gold in renminbi [12][17]. - The central clearing system will also enable the seamless integration of various market functions, addressing the current fragmentation in gold trading processes [10][11]. Group 4: Product Diversification and Innovation - The establishment of the central clearing system provides a solid foundation for the innovation of gold financial products in Hong Kong, including the introduction of gold ETFs and tokenized gold products [14][15]. - The total assets under management for gold ETFs in Hong Kong grew by 45% year-on-year to 15 billion HKD in the first three quarters of 2025, indicating a significant increase in market activity [14]. - The article highlights the potential for developing a regulatory framework for tokenized gold products, ensuring that physical gold reserves back these digital assets [15]. Group 5: Regional Cooperation and Future Outlook - The Hong Kong government is enhancing regional cooperation with mainland China to streamline the supply chain for gold, which could lead to cost advantages and meet global demand [16]. - The integration of the central clearing system with existing market institutions is expected to improve the efficiency of gold trading and settlement processes, thereby attracting more international investors [17]. - The article concludes that the establishment of the central clearing system and the innovation in gold products represent a strategic move for Hong Kong to solidify its role as a global gold trading center and support the internationalization of the renminbi [18].

Group 1 - The core viewpoint of the article highlights the paradox of rising metal prices, particularly gold, while simultaneously revealing systemic risks in the market, exemplified by the recent collapse of a jewelry company in Shenzhen [1][5][12] - The Shenzhen-based jewelry company, Shenzhen Jie Wo Rui Jewelry Co., has reported severe operational abnormalities, with unpaid funds exceeding 13.3 billion yuan, affecting multiple provinces [3][10] - The market sentiment has shifted from cautious observation to frenzied speculation, leading to a rush for investments in metals, despite the underlying risks [1][12] Group 2 - Jie Wo Rui, established in 2014, is a well-known player in the gold raw material trading sector, with a traditional business model of sourcing and recycling precious metals [6][8] - The company has built a high level of trust over the years, which has ironically contributed to the current crisis as it faced liquidity issues amid rising gold prices [8][12] - The operational failure is attributed to three dangerous gray market practices, including betting against gold prices, delaying deliveries, and using high leverage in financial transactions [12][13][16] Group 3 - The article discusses the transformation of the Water Bay area from a legitimate industrial base into a financial gambling hub, driven by the pressures of rising costs and intense competition [20][21] - The current market environment poses significant risks, especially if gold prices experience a normal correction, which could lead to catastrophic losses for highly leveraged investors [22][27] - The article concludes that for ordinary investors, the safest strategy is often the simplest one: avoiding complex investments in a high-risk environment [23][29]

为遏制金价波动对本币造成的影响，泰国中央银行计划收紧线上黄金交易的监管规则。 泰国央行助理行长宾潘・差伦坤周五表示，新监管措施不会对如今愈发火热的黄金交易造成重大影响， 但其将提升线上交易平台的透明度。 该新规将于今年 3 月正式生效，新规规定，以泰铢结算的线上黄金交易，单个用户单日交易上限为 5000 万泰铢（约合 160 万美元），超出该限额的交易需获得有关部门批准。 不过，对于 1 月底前账户中持有的黄金价值已超 5000 万泰铢的用户，本新规不适用；这类用户可直接 将持有的黄金回售给平台运营方，无需另行申请审批。 此外，新规也不适用于外币结算的黄金交易及实物黄金交易。 宾潘还表示，黄金交易商还需留存相关交易记录，并定期向泰国央行报备交易情况。 国际黄金价格今年以来已翻倍，本周早些时候更是首次突破每盎司 5000 美元关口。 泰国国内金价也在 1 月 29 日周四首次飙升至每泰铢重 8 万泰铢（约合 2545 美元），随后在周五大幅回 落，金价的剧烈波动引发了市场担忧。 泰铢重是泰国衡量黄金重量与纯度的标准单位：23K 金条的 1 泰铢重约为 15.244 克（约 0.54 盎司）， 黄金首饰的 1 泰 ...