Ernest HoffmanErnest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in ...

Hong Kong is putting gold at the centre of its push to become a global commodities trading hub, with officials prioritising plans for an international gold trading centre alongside a broader strategy to expand the city's role in physical trade, derivatives and logistics. The government's newly formed Commodity Strategy Committee held its first meeting on Monday under Financial Secretary Paul Chan Mo-po, as Hong Kong looked to build out a commodities ecosystem that would generate new growth beyond traditio ...

Group 1 - The traditional method of relying solely on bank deposits for asset appreciation is becoming unrealistic due to the downward trend in market interest rates, leading to lower bank deposit returns [2] - Three alternative asset options are suggested that have been proven to be relatively stable and yield better returns than current and short-term deposits [2] - Money market funds, such as "baby products," have a median seven-day annualized yield of 1.24%, with top funds like Tianhong Yu'ebao maintaining around 1.014%, providing a potential return of approximately 1,000 to 1,240 yuan for a 100,000 yuan investment over a year [2] Group 2 - Gold assets, including gold ETFs or physical gold, are recommended as a traditional hedge against uncertainty and inflation, with a suggested allocation of no more than 20% of idle funds, equating to 20,000 yuan for a 100,000 yuan investment [3] - The demand for gold typically increases during global economic uncertainty and geopolitical conflicts, supporting gold prices [3] - Caution is advised regarding short-term trading in gold due to price volatility, and a long-term holding strategy is recommended to avoid losses from short-term fluctuations [3] Group 3 - Mid to low-risk bank wealth management products are another option, with yields generally ranging from 2% to 3%, potentially generating returns of 2,000 to 3,000 yuan on a 100,000 yuan investment over a year [4] - It is important to understand that not all wealth management products labeled as mid to low risk are the same, as some may involve significant bond investments that carry slight volatility risks [4] - With increasing regulatory oversight, banks are now providing real-time updates on product net values, emphasizing the need for thorough understanding of product details before investing [4]

Unprecedented gold prices and a surge in retail sales may push revenue at Thailand’s largest gold trading house to a record $156 billion this year, according to Hua Seng Heng CEO Tanarat Pasawongs https://t.co/4qrv1cYxIz ...

Core Viewpoint - The recent fluctuations in gold prices are influenced by the potential end of the U.S. government shutdown, easing geopolitical tensions, tightening dollar liquidity, and profit-taking by long positions. Gold prices have rebounded as market expectations for a Federal Reserve rate cut in December increase, stabilizing investment demand [2][11]. Group 1: U.S. Government Shutdown and Dollar Liquidity - The U.S. government shutdown has led to significant selling pressure on gold, with COMEX gold futures dropping below $4000 per ounce, reaching a low of $3901.3 per ounce [2]. - The Federal Reserve's announcement to halt balance sheet reduction in December is expected to alleviate the low reserve issue in the U.S. banking system, where bank reserves fell below the "ample liquidity" threshold of $3.1 trillion, reaching $2.85 trillion by November 5 [3]. - The U.S. Congress passed a temporary funding bill on November 9, which is expected to end the government shutdown and reduce the fiscal liquidity siphoning effect [3]. Group 2: Economic Indicators and Rate Cut Expectations - Economic indicators suggest a slowdown, with October's job cuts reaching the highest level for that month in nearly 20 years, increasing by 175.3% year-over-year [5]. - October's inflation data showed a mild increase, with the CPI rising 0.3% month-over-month, which is below market expectations and previous months, reinforcing the market's anticipation of a Federal Reserve rate cut [5][6]. - The Supreme Court's ruling on IEEPA tariffs may exacerbate the U.S. debt issue, potentially forcing the Federal Reserve to consider rate cuts [5]. Group 3: Gold Market Dynamics - Central bank gold purchases are on the rise, with a reported 220 tons bought in Q3 2025, a 28% increase from the previous quarter, reversing earlier declines [7]. - Global gold demand reached a record high of 1313 tons in Q3 2025, with total demand valued at $146 billion, driven by significant inflows into gold ETFs, which saw a historic high of $26 billion [7][8]. - The SPDR gold ETF's holdings rebounded to 1042.06 tons by November 10, after a drop to 1036.05 tons in late October due to selling pressure [8]. Group 4: Market Outlook and Trading Strategies - The easing of dollar liquidity concerns and the potential for a Federal Reserve rate cut have shifted the macro narrative towards optimism, reducing the selling pressure on gold [11]. - Investors are advised to monitor COMEX gold options to hedge against increased volatility, with trading volumes reaching a historical high of 175,000 contracts [11].

Core Points - The new tax policy for gold trading, effective from November 1, aims to reduce taxes for transactions conducted through exchanges while maintaining existing tax rules for non-exchange channels [1][3] - The policy differentiates between the "financial" and "commodity" attributes of gold, encouraging investment through regulated exchange channels [1][3] Tax Policy Changes - Transactions of standard gold through the Shanghai Gold Exchange and Shanghai Futures Exchange will be exempt from value-added tax (VAT) when sold [1] - If gold is not withdrawn from the exchange, it is directly exempt from VAT; if physical gold is withdrawn, investment gold will enjoy a tax refund policy, while consumer gold can deduct VAT at a rate of 6% [1] - Non-exchange channels, such as purchasing gold bars or jewelry from stores, will still incur a 13% VAT [1] Impact on Consumers - Personal sales of used gold jewelry will be exempt from VAT, allowing individuals to sell items like old gold rings without tax implications [2] - The direct impact on retail prices of gold jewelry is minimal, but potential supply shortages from increased demand for investment gold through exchanges could lead to higher prices in the future [2] Investment Recommendations - For those looking to invest in gold for inflation hedging or asset preservation, it is advisable to use exchange channels like gold futures, which offer tax benefits and higher liquidity [2] - Consumers interested in purchasing gold jewelry or bars for personal use can continue to buy from stores without concern [2] Policy Background - The adjustment aims to create a more regulated and fair gold market, addressing previous lax tax management in non-exchange transactions and preventing tax loopholes [3] - The policy supports the gold industry and strengthens Shanghai's position as an international financial center for gold pricing [3]

Core Insights - The current gold price has reached an unprecedented level of $4,312 per ounce, raising questions about its valuation and potential bubble status [3][4] - The ongoing bull run in gold prices is attributed to global instability and significant central bank purchases, which are driving demand and affecting supply dynamics [6][7][8] Group 1: Market Dynamics - Global instability, including political disruptions and wars, is a primary driver for the rising value of gold as the dollar weakens [6] - Central banks, particularly in the US, China, and India, are purchasing gold at record rates, focusing on kilo bars rather than smaller retail products [7][8] - The demand from central banks has led to a shift in minting practices, with mints prioritizing kilo bars over smaller denominations due to high demand [8] Group 2: Selling and Valuation - Consumers can expect to receive approximately 80-90% of the melt value when selling gold, depending on purity and weight [15][16] - The average class ring is currently valued around $500, while average bracelets can sell for about $750, and necklaces can reach values of $5,000 to $7,000 [48][49] - The purity of gold is crucial for determining its value, with common karat markings indicating the percentage of gold in the piece [19][21] Group 3: Selling Process and Consumer Guidance - The selling process involves contacting a reputable buyer, receiving an upfront estimate, and using a prepaid mailer for shipping the gold [52][54] - Consumers should ensure that the gold buyer uses state-licensed scales and industry-standard testing equipment to verify purity [32][33] - Transparency in pricing is essential; buyers should provide clear calculations based on purity, weight, and current gold prices [28][29] Group 4: Investment Considerations - The gold market is experiencing significant demand not only for jewelry but also for industrial uses, particularly in technology sectors like AI [57] - Investors are advised to consider the high current prices of gold and the potential for market fluctuations, similar to stocks and cryptocurrencies [60] - Physical gold is recommended for investment, as it holds intrinsic value compared to paper representations of gold [61]

Core Viewpoint - The gold market is experiencing a significant price increase, with COMEX gold rising over 1.7% and reaching $4060 per ounce, while domestic gold jewelry prices also show upward trends [1][2]. Price Summary - The current gold jewelry prices from various brands are as follows: - Chow Tai Fook: 1190 CNY/gram, up 0.85% - Lao Feng Xiang: 1182 CNY/gram, up 0.85% - Chow Sang Sang: 1188 CNY/gram, up 1.02% - Liufuk Jewelry: 1190 CNY/gram, up 0.85% - Chow Tai Fook: 1129 CNY/gram, up 0.53% [2]. Trading Practices - There are numerous platforms offering pre-priced trading for retail investors, where a small deposit is paid to lock in future gold prices, but this does not involve actual gold purchases and is instead a high-leverage betting mechanism [2][3]. - An example from a participant, Ms. Wang, illustrates the risks involved in such trading, where she lost nearly 400,000 CNY due to forced liquidation after following advice to "short" gold prices [3]. Industry Response - The Guangdong Shenzhen Gold Jewelry Association is encouraging merchants to use proper hedging tools to mitigate price volatility risks and is promoting self-regulation and the introduction of third-party oversight in trading practices [3].

Core Insights - Blue Hat Interactive Entertainment Technology Inc. (BHAT) has completed over 123KG (US$13,326,754) in gold trading during the first half of 2025 and projects a potential trading volume of 550KG for the fiscal year 2025, depending on market conditions [1][2] - The company is undergoing a strategic transformation towards gold-focused commodity trading, with a significant portion of global gold consumption demand coming from China and India, which together account for over 50% of the market [1][2] - The company currently holds approximately 1,200KG of gold inventory and aims to continue building its position based on expected gold price trends, subject to market conditions and board approval [2] Industry Context - The gold trading chain has historically generated annualized returns, and gold prices have appreciated significantly year-to-date in 2025, indicating that expanding trading volume or increasing physical gold holdings may be viable strategies for companies in this sector [2] - Global jewelry demand has been a significant portion of total gold market demand, with substantial contributions from China and India, highlighting the importance of these markets for gold consumption [1]

Group 1 - The core viewpoint emphasizes that market movements are driven by investor interpretation and expectations rather than just news events [1][2] - The foreign exchange and gold markets face three main challenges: information overload, missing signals behind data, and emotional traps leading to poor trading decisions [2] - The UNFX analysis team focuses on three key areas: policy interpretation, technical validation, and tracking capital flows to identify investment opportunities [2] Group 2 - A recent case study highlighted that when the Eurozone CPI unexpectedly declined, the team did not simply view it as negative for the Euro; instead, they conducted a comprehensive analysis leading to a bullish EUR/USD strategy [2] - The essence of investment profitability lies in the ability to penetrate superficial information and capture the underlying truths of the market [3]