2026年开年以来，全球黄金白银市场延续"狂飙"行情，带动相关投资产品热度飙升。 消息面上，现货黄金29日继续大涨，一度突破5590美元/盎司。 国内品牌金饰价格也进一步攀升至历史新高，站上1700元/克。老凤祥黄金足金饰品报价1713元/克，单日上涨93元/克；周生生金饰价格为1708元/克，单 日上涨94元；周大福金饰报价1706元/克，单日上涨88元；1月29日，老庙黄金足金饰品报价1706元/克，单日上涨94元。 中国金币集团提示风险 金饰克价首次破1700元 1月29日，中国金币集团发布公告，近期贵金属原材料价格持续大幅攀升，特提醒广大贵金属纪念币集藏爱好者，理性参与投资，注意管控风险。 对于本轮白银价格上涨逻辑，国投白银LOF的基金经理赵建在2025年四季报中给出了部分解读。他表示，2025年四季度，美国政府经历最长"关门"危机， 失业率明显抬升，继9月份降息之后，美联储再次实施两次降息，累计降息50个基点，流动性宽松环境为白银价格上涨提供了支撑；同时，伦敦白银现货 出现阶段性紧张，叠加白银被美国纳入"关键矿产清单"，多重因素共同推动银价走高。 而从行业基本面来看，供需失衡成为白银价格持续大涨的核 ...

今日财讯要览 1 中央企业资产总额突破95万亿元 国务院国资委1月28日在国新办举行的新闻发布会上发布消息，截至2025年底，中央企业资产总额突破95万亿元。2025年，中央企业实现利润总额2.5万亿 元，完成固定资产投资5.1万亿元，上缴税费2.5万亿元，有效带动产业链上下游企业融通发展，为我国经济社会发展主要目标任务圆满实现提供了有力支 撑。 2 2025年全国出入境人员6.97亿人次 2025年，全国出入境人员达6.97亿人次，同比上升14.2%，创历史新高。出入境外国人8203.5万人次，同比上升26.4%。 3 团播行业首次迎来统一规范 近日，中国演出行业协会正式发布《网络表演经纪机构运营服务要求》。此项标准从多维度明确运营规范，尤其针对当下火热的团体直播（简称"团播"） 划定合规红线，标志着团播行业告别野蛮生长，迈入标准化、专业化发展新阶段。 6 来源：千图网 4 国际金价破5300美元 美国纽约商品交易所黄金期货价格1月28日突破每盎司5300美元的历史性关口。1月28日，国内多家品牌金饰价突破1600元。其中，老凤祥黄金足金饰品报 1620元/克，较前一日1576元/克涨44元；周大福黄金足金 ...

见证历史！现货黄金价格一日内突破5200美元、5300美元两大整数关口。 国内期货市场方面，1月28日沪金主力合约收涨3.58%。 A股市场方面，黄金、有色金属板块1月28日掀涨停潮。Wind数据显示，截至收盘，贵金属指数大涨6.76%，晓程科技（300139）、浩通科技 （301026）、常铝股份（002160）、锌业股份（000751）、白银有色（601212）、罗平锌电（002114）等超30股涨停或涨超10%。 | < ロ | | | 工 | | | | | --- | --- | --- | --- | --- | --- | --- | | 01-28 15:00:04 | | | | | | | | 229091.42 昨收 | | | 214587.64 | 成交额 | | 818亿 | | 14503.77 6.76% | | 今开 | 219544.19 | 成交量 | 22.8亿 | | | 上 涨 | 16 | ਜ | 0 | 下 跌 | | 1 | | 最高价 | 229749.30 | 市留学 | 32.8 | 近20日 | 44.24% | | | 最低价 | 217200.18 ...

1月28日，现货黄金再度大幅拉升，盘中首次站上5200美元，再创历史新高。 截至发稿时，现货黄金价格仍在不断攀升，最新报5216.368美元/盎司，年初至今已涨超20%，涨逾900 美元。 | < W | | | 伦敦金现 | | | O | | --- | --- | --- | --- | --- | --- | --- | | | SPTAUUSDOZ.IDC | | | | | | | 5216.368 | 昨结 | | 5181.748 | 总量 | | 0 | | +34.620 | +0.67% 开盘 | | 5179.233 | 现手 | | 0 | | 最高价 | 持 5218.028 | | 0 | 外 盘 | | 0 | | 最低价 | 5156.570 增 色 | | 0 | 内 盘 | | 0 | | 分时 | 五日 日K | | 園K | 月K | 曲家 | (0) | | 叠加 | | | | 均价:0.000 | | | | 5218.027 | | | | | …… 0:70% 卖一 5216.690 | | | | | | | | 买一 5216.368 | | | | | ...

12月20日，截至发稿，老凤祥黄金足金饰品报1362元/克，较昨日上涨6元/克；老庙黄金足金饰品报1361元/克，较昨日上涨5元/克；周生生 足金饰品报1359元/克，较昨日上涨4元/克。 ...

Core Viewpoint - The recent announcement by the Ministry of Finance and the State Taxation Administration regarding tax policies on gold is expected to have limited direct impact on gold jewelry consumption, despite a significant price increase in gold products immediately following the announcement [1][9]. Tax Policy Changes - The announcement states that from November 1, 2025, to December 31, 2027, transactions of standard gold through the Shanghai Gold Exchange and Shanghai Futures Exchange will be exempt from value-added tax (VAT) [1]. - For transactions that involve physical delivery, different VAT policies will apply based on the investment or non-investment nature of the gold [1]. Market Reaction - Following the announcement, the price of domestic gold jewelry surged, with some brands increasing prices by up to 63 yuan per gram overnight [9]. - For instance, the price of gold jewelry from Lao Miao increased to 1256 yuan per gram, while other brands like Chow Tai Fook and Zhou Shengsheng also saw significant price hikes [9]. Consumer Impact - Consumers typically pay a combined tax of 18% (13% VAT and 5% consumption tax) when purchasing gold jewelry, indicating that the retail prices already include these taxes [10]. - Experts believe that the new tax policy will not significantly alter consumer behavior or gold jewelry prices in the long term, as the changes primarily affect transactions through the exchanges [10].

Group 1 - The Chinese Ministry of Foreign Affairs refuted the U.S. State Department's claims regarding China's actions in the South China Sea, emphasizing that any threats or provocations are futile [1] - The U.S. government is experiencing significant layoffs, with the Department of the Treasury being the most affected, losing approximately 1,450 employees [1] Group 2 - The Chinese Ministry of Industry and Information Technology met with Apple CEO Tim Cook to discuss Apple's business development in China and collaboration in the electronic information sector [4] - Apple expressed gratitude for the support from the Chinese government and plans to increase investment in China [4] Group 3 - The National Development and Reform Commission announced a three-year action plan to double the service capacity of electric vehicle charging facilities by 2027, including the construction of 40,000 high-power charging stations [5] - The plan aims to enhance charging infrastructure in rural areas and key locations such as transportation hubs and tourist destinations [5] Group 4 - The core Consumer Price Index (CPI) in China has seen a year-on-year increase of 1.0%, marking the first time in 19 months that the growth rate has returned to 1% [6] - The Producer Price Index (PPI) continues to decline, with a year-on-year decrease of 2.3% [6] Group 5 - The People's Bank of China reported a narrowing of the M1-M2 gap to -1.2%, indicating increased business activity and a recovery in personal consumption [7] - The total social financing stock reached 437.08 trillion yuan, with a year-on-year growth of 8.7% [7] Group 6 - The China E-commerce Logistics Index for September has reached a new high for the year, indicating a positive trend in e-commerce logistics [8] Group 7 - CATL and JD.com announced a comprehensive strategic cooperation agreement to promote battery swapping and expand their market presence in the electric vehicle sector [28] - The collaboration aims to leverage JD.com's service network for battery aftermarket business [28] Group 8 - OpenAI is building an "AI closed-loop economy" with significant capital investments, including a strategic partnership with Broadcom to develop customized chips [31]

Core Insights - The article discusses the recent surge in gold prices, with spot gold exceeding $4200 per ounce as of October 15, 2025, leading to increased sales on e-commerce platforms and challenges related to order fulfillment [1][3][5]. Price Trends - Gold prices have shown significant fluctuations, with Tmall's Chow Tai Fook's gold jewelry prices rising from 1215 RMB per gram to 1235 RMB per gram in just one day [1][5]. - The price of platinum jewelry also increased from 667 RMB per gram to 671 RMB per gram during the same period [1]. Sales Performance - The China Gold Association reported a 15%-20% increase in national gold consumption during the National Day holiday compared to the previous year, indicating a "volume and price rise" scenario [5]. - Sales at Tmall's official flagship store for gold surged by 560% in the first half of October, driven by rising gold prices [5]. Consumer Behavior - Consumers exhibit a "buy high, not low" mentality, leading to a preference for high-weight and high-priced gold products during price fluctuations [6]. - Impulsive buying behavior has increased as consumers react quickly to rising gold prices [6]. Fulfillment Issues - There have been numerous complaints regarding "non-delivery" of gold products, with over 2044 complaints reported on platforms like Black Cat Complaints, primarily due to sellers citing stock shortages after price increases [6][7]. - Consumers have faced challenges when sellers refuse to fulfill orders, often leading to significant financial losses due to price hikes [6]. Industry Challenges - The rapid increase in gold prices has led to inventory shortages and fulfillment delays for many sellers, highlighting the need for stricter regulations and oversight on e-commerce platforms [7]. - Despite the rising gold prices, profit margins for sellers have remained stagnant over the past 15 years, increasing operational risks [7]. E-commerce Growth - Online sales of gold and jewelry are projected to grow by 16.4% in 2024, with e-commerce platforms becoming crucial for the industry's expansion [7].

Core Viewpoint - The continuous rise in gold prices has stimulated consumer demand, leading to increased sales on e-commerce platforms, while also presenting challenges such as delayed shipments from sellers [1][4][6] Group 1: Gold Price Trends - Gold prices have surged significantly, with spot gold exceeding $4200 per ounce on October 15, 2023 [1] - The price of gold jewelry and investment bars has also increased, with prices for certain products rising from 1215 RMB to 1235 RMB per gram within a day [1] - The overall increase in gold prices has led to a 15%-20% growth in gold consumption during the National Day holiday compared to the previous year [3] Group 2: Consumer Behavior - Many previously hesitant customers are now purchasing gold due to its rising prices, with some developing a habit of continuous buying [4] - Consumers tend to exhibit a "buy high, sell low" mentality, favoring larger, higher-priced gold products during price fluctuations [4] - Impulsive buying behavior has increased as consumers make quicker purchasing decisions amid price volatility [4] Group 3: E-commerce Challenges - A significant number of complaints regarding "non-delivery" of gold products have emerged, with over 2044 complaints reported on a consumer platform [4][5] - Sellers are often unable to fulfill orders due to rapid price increases, leading to situations where consumers are asked to cancel orders or accept refunds at original prices [5] - The rapid rise in gold prices has resulted in inventory shortages for some sellers, complicating timely deliveries [6] Group 4: Industry Insights - The volatility in gold prices has increased sales risks for merchants, with profit margins remaining nearly unchanged over the past 15 years despite rising gold prices [6] - Established merchants often employ professional analysts and maintain sufficient inventory to mitigate risks associated with price fluctuations [6] - E-commerce is becoming a crucial growth engine for the gold and jewelry sector, with projected online retail sales growth of 16.4% for gold and silver products in 2024 [6]