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【Brokerage Focus】CITIC SEC: Gold prices are undergoing a temporary adjustment, and gold jewelry sales may perform well.
Jinwu Financial News | CITIC SEC stated that since gold prices reached a historic highest closing price of 826 yuan/gram on April 22, 2025, they have corrected by over 8% as of May 12. Consumers have formed a stable bullish expectation for gold prices over the past year, and the bank believes that the current performance of gold prices will stimulate the increase in gold jewelry consumption through both financial and commodity attributes. Meanwhile, entering Q2 2025, the low base effect will become evident: it is expected that the retail sales of gold and silver jewelry in large retail enterprises (with annual main business income of 5 million yuan or more) will be -4.0% year-on-year in Q2 2025, -7.7% in Q3, and -0% in Q4.
Retail Inflation: Apparel, Footwear Prices See Declines in April
【Popular Industry】Gold prices swing again. Is the Gold Trinket Industry facing an accelerated reshuffle?
Jinwu Finance | Significant consensus reached in China-U.S. trade negotiations, rapidly improving market expectations. The VIX volatility index, known as the 'fear index,' fell below 20 points again on May 12, further dropping to 18.4. Market risk appetite surged, leading to a collective rise in U.S. stocks that day, with Technology stocks leading the Large Cap, and the Nasdaq rising more than 4%. The celebration of risk assets came as Global risk aversion sentiments quickly retreated, causing international gold prices to drop sharply. New York futures gold closed at $3,228 per ounce, down $116, a decline of about 3.5%. Spot gold precariously held above $3,200 per ounce, hitting a low of $3,207.3, the beginning of May.
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