近几日金价涨势延续。上海黄金交易所黄金9999的价格在今日盘中最高涨至1002元/克，再创历史新 高。而今年以来黄金的涨幅已超60%。 面对金价的持续大幅波动，上海黄金交易所、工商银行等多家银行日前接连发布风险提示。更值得关注 的是，持仓量居前的头部期货席位，其黄金期货的净多单持仓量也在持续减少，黄金明星席位中财期货 的净多单也在持续减少。 而复盘历史，持仓量头部的期货席位，在9月以来的黄金上升趋势行情前，曾大量建仓多单。而在此前 的调整行情开始前，也曾精准减持多单。多家机构发布黄金风险提示 头部席位大幅减持多单 面对金价的持续大幅波动，上海黄金交易所以及工商银行、建设银行等多家银行日前接连发布风险提 示。10月16日，上海黄金交易所在网站发布提示，近期影响市场不稳定的因素较多，国际贵金属价格波 动剧烈。请各会员提高风险防范意识，继续做好风险应急预案，维护市场平稳运行。同时，提示投资者 做好风险防范工作，合理控制仓位，理性投资。 每经资本眼研究员发现，与此同时，曾经在黄金期货大幅做多的明星席位中财期货席位，其黄金期货的 净多单持仓量也明显下降。中财期货席位的黄金期货净多单持仓，从9月23日的3.83万手下降至 ...

Group 1: International Gold Prices and Trends - On July 10, 2025, the international gold price closed at $3,294.96 per ounce, down $6.57 from the previous day, with a trading range of $3,284.87 to $3,307.79 per ounce [2] - Other precious metals also experienced declines, with silver at $36.5 per ounce (down $0.23), platinum at $1,377.85 per ounce (down $13.45), and palladium at $1,117.6 per ounce (down $4.1) [2] Group 2: Domestic Gold Prices and Recovery Prices - Domestic retail gold prices ranged from 788 to 999 yuan per gram, with investment gold bars priced at 781 yuan per gram; major brands showed varied price movements [3] - Notable price changes included Chow Sang Sang at 999 yuan per gram (down 8 yuan), and other brands like Chow Tai Fook and Lao Feng Xiang at 998 yuan per gram (down 6 to 7 yuan) [3] - Recovery prices for different gold purities were reported, with 750 gold at 543 yuan per gram and platinum at 290 yuan per gram [3] Group 3: Paper Gold and Shanghai Gold Exchange Trends - The paper gold market saw a trading price of 762.76 yuan per gram, up 0.22%, while paper silver, platinum, and palladium also increased [4] - The Shanghai Gold Exchange reported declines in various gold products, with price drops ranging from 1.01% to 1.17%, and a slight decrease of 0.21% in silver T D prices [4] Group 4: Investment Strategies in Gold - The investment strategy for gold should adapt to the changing international financial environment, with a focus on long-term holding to mitigate risks [5] - Historical data suggests that holding gold for over five years yields stable returns, and investors are advised to allocate 5% to 15% of their total assets to gold [5] - Short-term trading strategies should consider key indicators such as central bank gold purchases, U.S. real interest rates, and geopolitical risks [5]

Group 1: Gold Market Overview - The Shanghai Gold Exchange reported a slight decline in gold prices, with the price of gold 9999 closing at 776.14 yuan per gram, down 0.53% from the previous day, with a trading range of 768 to 772.4 yuan per gram [1] - Other gold specifications also experienced declines ranging from 0.32% to 0.70%, indicating a relatively stable overall trend despite the price drop [1] Group 2: Retail Gold Prices - Significant price differentiation was observed among various gold brands, with retail prices for gold jewelry reaching as high as 1005 yuan per gram for brands like Chow Tai Fook and Luk Fook, while lower prices were noted for brands like China Gold at 969 yuan per gram [2][4] - Investment gold bar prices remained stable, fluctuating around 785 yuan per gram, while bank prices for investment gold bars varied between 784 and 789 yuan per gram [4] Group 3: Gold Recycling Prices - The gold recycling price was reported at 760 yuan per gram for 99.9% purity gold, with varying prices for different gold purities, such as 22K gold at 673 yuan per gram and 18K gold at 547 yuan per gram [5] Group 4: Platinum Market Outlook - The platinum market faces challenges due to the rapid development of global electric vehicles impacting traditional automotive catalyst demand, with a projected decrease of 50,000 ounces in platinum demand from the automotive sector in 2025 [6] - However, the rise of hydrogen fuel cell vehicles presents a new growth opportunity, as their platinum demand exceeds that of traditional fuel vehicles [6] - The industrial demand for platinum is expected to decline by 8% year-on-year in 2025, influenced by cyclical downturns in the glass industry and changes in international trade dynamics [6]

Core Viewpoint - The article discusses the performance of various asset classes in 2023, highlighting significant gains in certain sectors while noting declines in others, particularly in the US stock market. Group 1: Asset Performance - The Hang Seng Technology Index has increased by 23.24% year-to-date, while gold prices have risen by 17.11% [2][3] - The A-share market has seen declines in major indices such as the Shanghai Composite Index and the CSI 300, with the latter down by 0.50% [2][3] - The US stock market has experienced notable declines, with the S&P 500 down by 5.11% and the Nasdaq 100 down by 8.24% [4] Group 2: Valuation Data - The current Price-to-Earnings (PE) ratio for the CSI 300 is 20.17, with historical maximum and minimum values of 59.01 and 13.03 respectively [6] - The PE ratio for the ChiNext Index stands at 36.58, indicating a relatively high valuation compared to historical averages [6] Group 3: Market Strength Indicators - Market strength indicators have shown significant pullbacks, approaching oversold territory, suggesting potential for further declines if negative trends continue [9] Group 4: Asset Allocation Strategy - Effective asset allocation involves diversifying investments across different asset classes to mitigate risk and enhance returns [10] - It is recommended to maintain an emergency fund covering 3 to 6 months of living expenses, while excess funds can be allocated to higher-risk investments like stocks and funds [10][11] - Regular reviews of asset allocation are advised to adjust for significant gains or losses in specific assets [11]