回收市场上，旧金镯子一克最多能卖965元，买新首饰还得加三四百块，这差价都能吃一个月的螺蛳粉了，投资金条的差价更大，银行卖1190元，交易所才 974元，难怪有人说，炒黄金就像坐过山车。 去年，小区的王姨听中介说金条能赚钱，借了不少钱买了十斤，结果年底金价大跌，现在她看到金店广告都绕道走，理财顾问老张常说，别光看别人赚了就 眼红，你不知道下一个坑在哪儿。 2026年1月5日， 金价一夜之间跌了六块钱一克，我表姐刚买的转运珠，重十克，第二天就亏了六十块，她在家族群里气得直发火。 我对比了一下周围金店的价格，发现菜百的金镯子卖1345元，老凤祥卖1360元，铂金的差距更大，周大福标价855元，菜百只要705元，品牌溢价真是惊人。 北海六福珠宝：黄金价格1355.00元/克，铂金价格855.00元/克，金条价格（内地）1188.00元/克，汉中东祥金店：黄金价格1355.00元/克，铂金价格849.00元/ 克，宁波高赛尔：金条991.00元/克，银条18.19元/克。 金融机构的金条价格也各有千秋，建设银行的"龙鼎金条"每克993.01元；工商银行的"如意金条"992.36元/克；农业银行的"传世之宝金条"101 ...

Core Insights - The high-end consumer goods industry has entered a "deep winter" in 2025, leading to widespread price reductions across various brands, including luxury cars, beauty products, and alcoholic beverages, with price drops exceeding 20% from peak levels [1] - The dairy industry, particularly high-end products, has also experienced significant price cuts, with reductions ranging from 30% to 50%, and some products seeing drops as high as 70% [1][3] Group 1: Market Dynamics - The decline in demand for high-end dairy products is not due to a general aversion to premium goods, but rather a failure of traditional brands to engage consumers effectively [4][5] - Consumers have become more rational and discerning, focusing on product quality and effectiveness rather than marketing narratives [5][6] Group 2: Marketing Strategies - Traditional marketing approaches, such as high-profile sponsorships and storytelling, are becoming less effective in reaching today's consumers, who are more skeptical and have diverse media consumption habits [9][10] - Brands like 越秀辉山 and Blueglass have struggled with outdated marketing strategies, leading to penalties and diminished brand reputation [7][8] Group 3: Product Differentiation - The dairy sector faces challenges in product differentiation, as many offerings are similar in taste and nutritional content, making it difficult to justify premium pricing [13][14] - To succeed, brands must find ways to enhance perceived value, such as emphasizing unique nutritional benefits or superior sourcing practices [17][27] Group 4: Future Opportunities - The aging population is expected to increase demand for high-quality nutritional products, presenting a cyclical opportunity for brands like 越秀辉山 to innovate and improve their offerings [28][29] - Companies should focus on modernizing marketing strategies and ensuring product quality to remain competitive in a changing market landscape [18][26]

回顾2023年，黄金市场就曾上演过类似行情。 当年黄金从年初1822美元/盎司起步，一路震荡上行至年底突破2100美元，全年涨幅超过17%。 推动那轮上涨 的核心逻辑与当前有诸多相似之处：美联储货币政策转向预期、地缘政治冲突不断、央行持续购金。 2023年赚到钱的投资者，多数采用了分批买入、控制 仓位的策略。 2025年的市场表现更加激进，金价在3月突破3000美元/盎司，4月突破3500美元，10月突破4000美元，12月下旬更是站上4500美元关口。 这种 加速上涨让部分分析师开始警惕。 中金公司研究部大类资产配置研究负责人李昭提醒，金价在三年内累计上涨2.4倍，已明显高于模型计算的估值中枢，可 能存在一定泡沫。 黄金市场的狂热也带动了相关投资产品的活跃。 2025年前三季度，中国国内黄金ETF增仓量达到79.015吨，同比增长164.03%。 至9月底，国内黄金ETF持仓 量达193.749吨。 A股市场上，多只黄金概念股在2025年实现翻倍上涨，招金黄金年内涨幅超238%，兴业银锡涨幅超215%。 黄金矿业公司正利用这一轮牛 市积极增储上产。 以紫金矿业为例，其2025年前三季度实现归母净利润378. ...

在2025年12月28日的清晨，深圳水贝黄金市场刚刚亮起了灯，在三亚的金店工作人员还在忙着核对价格标签，你会发现，即使是同一品牌的黄金项链，在深 圳的价格是每克1238元，三亚是1285元，一个57克的金镯子，两地的差价竟然高达近三千块，日常交易中隐藏着中国黄金市场的一个不为人知的秘密——价 格机制。 王老板在水贝黄金批发市场的一个小型仓库里，正专注地看着电脑屏幕，眉头紧锁，今天上海黄金交易所的价格涨了五块钱，他的店里最多只能加三块钱， 他的店铺紧邻加工厂，货架上摆放着最新生产的素圈和戒托。 菜百珠宝店的黄金售价为每克1370元，铂金价格为725元/克，银价为19.61元/克。 中国黄金作为行业内的一个重要参考点，基础金价定为1016.50元/克，零售价稍高，达到1032.50元/克，回收价为1013.50元/克。 在周大生和潮宏基这两家知名珠宝品牌中，黄金的售价均为1413.00元/克，铂金的售价保持一致，同为979.00元/克。 宝庆银楼的黄金报价有所下滑，最新的价格为1329.00元/克，铂金价格保持稳定，依旧为979.00元/克。 这里没有商场高昂的租金，也没有品牌店的广告费用，每天有超过两百吨的黄金 ...

) 蚂蚁财富 后傻 × 2025 年轻人 I III EE 00后 24.4% 85后 7.4% 95后 39.2% 85前 2.9% - - - - - - - - - - 在工资波动、感情流动、 房价也在变动的时代 , 年轻人终于找到了一个「不会跑」的东西 -黄金。 但它不再是妈妈抽屉里压箱底的金镯子, 也不是暴富神话里的投机筹码。 今天的年轻人，把黄金变成了 通勤路上随手定投的黄金ETF; 工资到账买一笔的银行积存金; OOTD里不土气的古法小金饰; 恋爱日常里共同攒下的金豆子; 甚至是对抗不确定性的「定心丸」 。 黄金, 正在从「重资产」蜕变为「轻生活方式」。 为此，后浪研究所联合蚂蚁财富 发起了一项年轻人含金量小调查, 邀请911位「黄金猎人」 分享了他们的买金偏好。 调查对象 性别: 男性 29.9% 女性 70.1% 年龄层: 90后 26.1% 我们从中提炼了 2025年轻人买黄金的十大现象 试图回答一个问题 : 为什么这代年轻人 , 把买黄金变成了一种日常习惯? 黄金不是潮流, 是标配 年轻人的真香定律，终于轮到黄金了。 数据显示，88.4%的年轻人都买过黄金。 曾经被视作「士气」和「妈妈专 ...

哎，最近是不是又刷到金价下调的消息了？我表妹刚还在群里问，说看中个金镯子，价格好像比前阵子温柔了点，纠结要不要下手。我跟她说："先别急着 为'降价'俩字心动，你得多看几个地方，同样是金子，价格能差出'一部手机'的钱来，这里头的讲究可大了。" 金店逛一圈：从1320到1356，你多付的钱买了啥？ 你瞅瞅这些牌子，菜百和中国黄金报1320一克，周大福、六福这些是1353，老凤祥、老庙则到了1356。看着都是"足金999"，一克最多能差出36块。买个30 克的手镯，总价能差一千多。这差价哪来的？说白了，你多付的部分，买的是品牌的门店气派、广告营销、独家设计，还有那份送人时的'面子'。这就像买 包，基本功能都是装东西，但不同牌子价格天差地别。如果你买金是为了结婚、送礼，看重品牌和款式，那为这份"附加值"付费很正常；但如果只是想拥有 黄金本身，那就要琢磨一下，这份品牌溢价是不是必要开支了。 揭秘"批发市场"：水贝的价，为何亲民那么多？ 就算在水贝，你也会看到古法金、5G黄金、3D硬金等不同工艺有细微价差。这些差别主要来自工艺复杂度。古法金讲究哑光、厚重质感，工序繁复；3D硬 金能让同样克重的金饰看起来体积更大，工艺技术 ...

哎，今早一看金价新闻，感觉血压都跟着那曲线往上走了。朋友在群里发了个金镯子图片，底下立马有人接话："现在买？胆子真肥。"也有人说："涨成这 样，再不买以后更贵。"这金价一飞冲天，把咱们普通人的心也搞得七上八下的。买吧，怕追高成了"接盘侠"；不买吧，又担心真像专家说的，以后再也回 不到这个价了。今天咱们就坐下来，泡杯茶，好好唠唠这烫手的黄金。 一提买黄金，很多人脑子里就是金镯子、金项链。其实，参与黄金的方式有很多。比如，你可以关注银行发行的"投资金条"，价格通常比首饰金便宜不少， 更接近原料价，适合储存保值。还有"积存金"这类产品，有点像黄金的零存整取，每月固定买一点，攒到一定克数可以提取实物，或者直接卖出赚差价，门 槛低，方式也灵活。 如果你连实物都不想保管，也可以了解一下大型金融机构提供的纸黄金、黄金ETF等产品，直接在账户上操作，买卖更便捷，主要是分享金价波动的收益。 这些方式各有特点，有的方便，有的成本低，有的流动性好，可以根据自己的知识和风险承受能力来了解。 金店价格差出一台手机，钱花在哪儿了？ 你发现没，同样叫"足金"，不同地方标价能差出好几百。比如，一些大型批发市场或产业基地的报价，每克可能在一千 ...

Group 1: Consumer Trends - The jewelry sector, particularly gold, saw a significant year-on-year increase of 37.6% in October, marking it as a standout performer in consumer spending [2] - The surge in gold purchases is attributed to a more than 50% increase in international gold prices this year, currently stabilizing above $4,100 per ounce, leading consumers to invest in gold as a safe asset [4] - Overall retail sales in October increased by 2.9% year-on-year, with rural consumption growing at a faster rate of 4.1% compared to urban areas, indicating a shift in spending patterns [9] Group 2: Industrial and Manufacturing Insights - The industrial output for October rose by 4.9% year-on-year, with notable growth in equipment manufacturing and high-tech manufacturing at 8% and 7.2% respectively, outpacing overall industrial growth [11] - The manufacturing sector is transitioning towards high-tech production, as evidenced by increased investments in smart equipment and advanced production lines [12] Group 3: Investment and Economic Challenges - Fixed asset investment decreased by 1.7% year-on-year, primarily due to a 14.7% drop in real estate development investment, highlighting ongoing challenges in the property market [14] - Excluding the real estate sector, national investment actually increased by 1.7%, with manufacturing investments continuing to grow [17] Group 4: Trade and Export Dynamics - In October, the total value of imports and exports rose by 0.1% year-on-year, with imports increasing by 1.4%, indicating a rise in domestic demand [20] - The Producer Price Index (PPI) fell by 2.1% year-on-year, but the rate of decline has slowed, suggesting a potential easing of deflationary pressures in the industrial sector [21] Group 5: Market Performance - The stock market has recently surpassed the 4,000-point mark, reflecting increased investor confidence and a shift of funds from savings to equity investments [23]

Core Viewpoint - The recent drop in gold prices, with domestic prices falling by 20 yuan per gram, raises questions about whether this is a buying opportunity or a potential trap for investors [1][3]. Group 1: Price Movement and Market Dynamics - Domestic gold prices have decreased from 928 yuan per gram to 908 yuan per gram, a drop of approximately 2.15% [1][3]. - Despite the drop in trading prices, retail gold prices remain high, with brands like Chow Tai Fook maintaining prices around 1259 yuan per gram, indicating a significant premium over market rates [1][3]. - The disparity in pricing is attributed to the "premium difference," where investment gold bars fluctuate with market prices, while jewelry prices include craftsmanship and brand premiums [1][3]. Group 2: Causes of Price Decline - The decline in gold prices is driven by a combination of domestic policy changes and international market conditions [2][3]. - A key factor is the new tax policy effective November 1, 2025, which reduces the input tax deduction for non-investment gold, raising costs for businesses and triggering a sell-off [2][3]. - Internationally, easing geopolitical tensions and a decrease in safe-haven demand have contributed to the price drop, as evidenced by a significant retreat from peak prices [2][3]. - The Federal Reserve's recent interest rate cut and expectations of further easing have strengthened the dollar, negatively impacting gold's appeal [2][3]. Group 3: Consumer Perspectives - For consumers with immediate needs (e.g., weddings, gifts), it is advisable to purchase gold jewelry now, as prices are unlikely to drop significantly due to craftsmanship costs [5][6]. - Investors are advised to avoid impulsive buying and consider a phased approach to purchasing gold, given the uncertainty surrounding future price movements [5][6]. Group 4: Investment Guidelines - It is crucial to avoid treating gold jewelry as an investment due to high premiums and potential losses upon resale [6]. - Investors should purchase through reputable channels to ensure product quality and proper documentation, especially following the new tax regulations [6]. - Understanding the purpose of gold purchases is essential to avoid penalties related to tax compliance under the new regulations [6]. Group 5: Future Price Trends - Short-term price fluctuations are expected, influenced by the upcoming Federal Reserve meeting, while long-term trends remain bullish due to ongoing central bank purchases and geopolitical risks [7]. - The World Gold Council predicts a long-term price target of around 3800 USD per ounce, indicating potential for future price increases in the domestic market [7].

Core Viewpoint - The recent fluctuations in gold prices have created uncertainty among consumers, with prices rising significantly from previous months, leading to concerns about potential investment risks and market behavior [1][4][10]. Price Trends - Current gold prices range from 1,120 yuan per gram at some retailers to 1,256 yuan per gram at others, compared to over 900 yuan a few months ago, indicating a substantial increase [1][4]. - The gold recycling price is currently around 895 yuan per gram, highlighting the disparity between purchase and resale values [1]. Market Influences - Gold prices are influenced by global economic conditions, exchange rates, inflation, and market sentiment, particularly during times of uncertainty [4]. - Increased demand for gold is noted during the wedding season in China, contributing to rising prices [4]. Investment Considerations - Consumers are advised to differentiate between purchasing gold for personal use versus investment, as jewelry often carries high premiums and lower resale values [8][10]. - For investment purposes, gold bars and coins are recommended due to their higher purity and lower processing costs compared to jewelry [8]. Platinum Comparison - Platinum prices are currently significantly lower than gold, with prices around 560 yuan per gram, reflecting a shift in market dynamics where gold is viewed as a more stable investment [8]. Consumer Guidance - Consumers are encouraged to approach gold purchases with caution, considering their financial capacity and market conditions, and to avoid impulsive buying or selling based on short-term price movements [10].