文 | 时代财经 买金大军还在冲，黄金在这个双十一又卖爆了。 近日，飞瓜数据发布了快手平台双十一品牌排行榜（数据统计自2025年10月18日~11月11日，榜单覆盖 手机数码、美容护肤、女装等多个核心行业类目），其中，多个黄金珠宝品牌销售增幅明显。 该榜单前20个品牌中，黄金珠宝品牌就占据9席，较2024年增加1席。榜单前三名皆被黄金珠宝品牌包 揽，分别是中国珠宝、周大生、紫金。此外，还有大批知名度不高的小众黄金品牌扎堆上榜。 当下，国际金价表现并不稳定。Wind数据显示，10月20日COMEX黄金一度冲高至4398美元/盎司，随 后明显回落。截至11月14日18时18分，COMEX黄金报约4172美元/盎司。另一方面，11月初有关黄金税 收新政也正式落地。但是，线上双十一的黄金消费数据表明，消费者的囤金热潮仍在持续。 小众品牌"杀疯了"，客单价冲到3万 相比其他榜单上常见的周大福、周生生等知名黄金珠宝品牌，在快手平台，今年双十一期间大批小众黄 金珠宝品牌销售热度高涨。 具体来看，在排行榜总榜中，黄金珠宝品牌中国珠宝SINO GEM、周大生、紫金分列第一至三名。此 外，庆大福、领丰金、喵际、翠绿、行金银中、曼 ...

Core Insights - The gold price in Shenzhen's Shui Bei market surged significantly, rising from approximately 930 yuan per gram to 991 yuan within two hours on November 3, 2023, and remained high at 993 yuan per gram as of the latest report [1][3][7] Group 1: Price Fluctuations - The recent spike in gold prices is likely linked to the announcement of a new tax policy by the Ministry of Finance and the State Taxation Administration, which will take effect from November 1, 2025, until December 31, 2027 [3][7] - Following the announcement, gold prices across various markets in China have seen substantial increases, with some retailers in Shenzhen selling gold at prices excluding the new tax, attracting investors to stock up [3][7] Group 2: Market Reactions - Retailers in the market have adjusted their prices, with reports indicating that gold prices increased by 13 tax points, reaching 991 yuan per gram, and prices could rise to 1061 yuan per gram if invoices are required [7][9] - Many small-scale jewelers have paused their gold trading activities due to the unpredictable market conditions and high prices, opting to wait for price stabilization before resuming operations [9][10] Group 3: Investor Behavior - Investors are actively seeking to take advantage of the price fluctuations, with some resorting to local delivery services to secure gold purchases amid rising prices [10][14] - The introduction of the new tax policy has prompted a sense of urgency among investors, leading to a rush to purchase gold before further price increases [10][14] Group 4: Market Outlook - Following the implementation of the new tax policy, gold jewelry stocks have continued to decline, with notable drops in companies such as Lao Pu Gold and Chow Tai Fook [19][23] - Analysts suggest that the tax adjustments will impact market sentiment, particularly affecting the demand for weight-based gold jewelry, while the overall competitiveness of China's gold market may improve in the long term [19][23]