Since October, the international gold price has fluctuated greatly. Market data shows that spot gold has fallen sharply from its historical high of nearly $2,800/ounce. After "six consecutive declines" and the largest weekly decline in three years, it regained its upward trend this week, reaching $2,660/ounce today, rising for the fourth consecutive trading day. The listing price of pure gold jewelry in most domestic brand gold shops is approaching 800 yuan/gram again.
Analysts believe that the probability of gold prices remaining high before the Spring Festival is high. What are the response strategies of gold brand retailers? A person from the securities department of Zhou Dasheng (002867.SZ) admitted that "in terms of products, we have been adjusting according to consumer consumption trends and changes", and correspondingly adjusted more low-unit-price and strong-design products.
Gold prices fluctuate Looking back, the prices of London gold spot and COMEX gold futures both set new records on October 31, reaching $2,790.07/ounce and $2,801.8/ounce respectively; then, from November 8 to November 15, the international gold price fell for six consecutive trading days. Data shows that London gold spot fell by more than 4% last week, closing at $2,562.715/ounce on November 15, the largest weekly drop in nearly three years.
"At the beginning of the month, with Trump's victory and the dust settling on the US election, the market's expectations for risks have declined to a certain extent, and risk aversion has shrunk, suppressing the decline in gold prices for deep adjustments." Song Yunming, a US and European financial analyst at Beijing A-Ming International Economic Consulting Co., Ltd., told Cailianshe reporters. Entering this week, the international gold price rebounded significantly. From November 18 to November 20, London gold has achieved "three consecutive increases". "For the short-term trend, it is expected that the main trend will still be a wide range of adjustments."
Song Yunming said that although Trump intends to reconcile geopolitical tensions, firstly, he has not yet taken office; secondly, the geopolitical situation has been deeply involved so far, and it is difficult to mediate the interests of all parties, and he is not optimistic about the time. Recently, the situation between Russia and Ukraine has escalated again, and the risk aversion sentiment has further supported the trend of gold bulls.
Looking forward to the future of gold prices, Goldman Sachs said in its latest report that gold prices will rise to record levels next year due to central bank purchases and expectations that the Federal Reserve will continue to cut interest rates next year. Goldman Sachs has listed gold as one of the preferred commodities for 2025, and said that gold prices may continue to rise during President Trump's term, while emphasizing that the target price by December 2025 is $3,000 per ounce. Gold brand retailers respond It is worth noting that gold prices have risen by more than 28% this year. Song Yunming believes that the fluctuation of gold prices is large, especially this deep correction, which has a greater impact on conventional individual investors, and may hit the confidence of gold jewelry consumption in the short term.
Shanghai Nonferrous Network
https://news.smm.cn/news/103051951
