Up, up, up! International gold price hit a record high!

Brand gold jewelry is approaching 690 yuan per gram, can gold consumption continue to be "bought in buy buy"?

Last week, the soaring gold price rushed to Weibo for hot search. As of the close of March 29th, Shanghai Gold Futures closed up 2.56% to 531.3 yuan/gram, and the intraday price was 532.54 yuan/gram, a record high. Overnight, the international gold price hit another record high, and COMEX gold futures hit a record high of $2,256.9 per ounce.

The price of domestic brand gold jewelry has also risen. Yangzi Evening News/Zi Niu News reporter visited many brand gold jewelry stores in Nanjing and learned that the price of Chow Tai Fook’s jewelry gold has risen to 686 yuan/gram, and the price of investment gold bars is 616 yuan/gram. Can residents continue to buy gold in buy buy? What should I pay attention to when investing in gold?

Every gram of gold jewelry approaches the gold shop of 690 yuan shopping mall to launch "activity price"

On March 31st, the reporter of Yangzi Evening News saw at the scene of several chain brands’ gold shops such as Xinjiekou and Taiping South Road that all brands have launched a certain amount of double-weekend promotion activities, and some brands have a preferential margin of 99 yuan per gram.

At the counter of Chow Tai Fook in Xinjiekou Store, the price of jewelry gold and investment gold bars in the store is 686 yuan/gram and 616 yuan/gram respectively. The basic gold price of the old temple is 688 yuan/gram, and the activity price is reduced by 60 yuan per gram. In addition, you can enjoy the 120 yuan Meituan coupon; Chow Tai Fook’s basic gold price is 686 yuan, minus 30 yuan per gram (at the same time, you can buy US group coupons, and then give a discount of one or two hundred yuan on the basis of the total price); Lao Fengxiang’s basic gold price is 686 yuan, and the preferential activity price is reduced by 60 yuan per gram. Together with the promotional activities launched by the store, the final preferential margin is reduced by 99 yuan per gram. The basic gold price of an old temple gold shop in Taiping South Road is 688 yuan/gram, with a discount of 75 yuan per gram, and the wages are calculated separately.

In the old temple gold shop on Taiping South Road, a bride who is to be married in May told reporters that the price of gold has risen too fast recently and decided to let her husband buy gold jewelry with a lower gram, saying that she would not follow suit. As for whether gold jewelry will continue to rise, the salesperson said: "Gold costs one price a day, and the listing price of gold jewelry is often adjusted. We can’t say this. Recently, the price of gold has risen a bit. "

Why is the price of gold "rising"? What should I pay attention to when investing in gold?

Why has the international gold price kept rising recently? Bai Wenxi, vice chairman of China Enterprise Capital Alliance, said in an interview that the main reasons are as follows: First, the dollar is expected to weaken. As a credit currency, the value of US dollar is negatively correlated with the price of gold. The loose monetary policy and expansionary fiscal policy in the United States release a large amount of dollar liquidity, which may lead to the weakening of the dollar, and then push up the price of gold; Second, central banks in many countries began to increase gold as reserve assets, which intensified the demand for gold and promoted the rise of gold prices; Third, the uncertainty of the global economic and political situation has increased the market demand for safe-haven assets such as gold; Fourth, the expected interest rate cut by the Federal Reserve and the decline of the US dollar index also pushed up the price of gold.

For gold jewelry with rising prices, Bai Wenxi reminded that the price of gold jewelry usually includes higher processing and design costs, which may affect its return on investment. Therefore, personal needs and investment purposes should be considered when buying gold jewelry.

So, for ordinary people, what do you need to pay attention to when investing in gold bars? Guo Tao, an angel investor and a special researcher at the Research Center for E-Commerce of NetEconomy, Social Security and Economics, believes that in the short term, the international gold price generally shows an upward trend. In the first quarter and the second quarter, the gold price was driven by economic weakening and risk-averse factors, showing a strong trend, which does not rule out the possibility of hitting a new record high, but even traditional risk-averse assets such as gold cannot completely avoid risks. Investors should be cautious, don’t blindly follow the trend, and consider long-term investment.

Bai Wenxi said that in addition to gold bars, other ways for ordinary people to invest in gold can consider financial derivatives such as gold ETF (exchange traded fund), gold futures and gold options, as well as gold accumulation business. Each method has its own characteristics and risks, so it is suggested to conduct sufficient market research and risk assessment before investing.

Extended reading

Can gold stocks catch up?

Experts remind: the risk is high after the sharp rise.

Boosted by the higher gold price, the precious metals sector in the A-share market collectively closed up. As of the close of March 29th, Chifeng Gold (600988.SH) had a daily limit, Shandong Gold (600547.SH) rose by nearly 8%, Yintai Gold (000975.SZ), Zhongjin Gold (600489.SH) and Hunan Gold (00219).

Traders said that it is necessary to be alert to the risk of callback after the stock price of gold stocks has soared.

A number of listed companies in the gold sector recently disclosed the 2023 annual report. The 2023 annual report released by Shandong Gold on the evening of March 28th showed that during the reporting period, the company recorded revenue of 59.275 billion yuan, a year-on-year increase of 17.83%. The net profit of returning to the mother was 2.328 billion yuan, up 86.57% year-on-year.

The 2023 annual report disclosed by Zijin Mining (601899.SH) recently showed that the operating income during the reporting period was 293.4 billion yuan, a year-on-year increase of 9%; The net profit of returning to the mother was about 21.1 billion yuan, a year-on-year increase of 5%.

The Wells Fargo Fund pointed out that in the short term, there is a risk of shock after the sharp rise in gold prices; In the medium and long term, the logic of gold rising is still sufficient. First of all, in 2024, with the gradual realization of the expectation of interest rate cuts in the United States, the downward trend of real interest rates is expected to push up the price of gold; Secondly, there is still great uncertainty in geopolitics, and the value of gold allocation as a safe-haven asset continues to be prominent.