International gold prices continue to climb, with spot gold breaking through the $4,000 per ounce mark, marking a year-to-date increase of over 52%. Domestic gold jewelry prices have followed suit, with Chow Sang Sang and Chow Tai Fook's pure gold jewelry priced at 1,165 yuan per gram and 1,162 yuan per gram respectively.

The price surge is primarily driven by factors including the risk of a U.S. federal government shutdown, heightened market expectations for Federal Reserve interest rate cuts, and geopolitical tensions. Institutions such as Goldman Sachs and UBS maintain optimistic outlooks on gold's prospects. Goldman Sachs has raised its 2026 gold price forecast to $4,900 per ounce, while UBS anticipates prices could reach $4,200 per ounce by mid-2026. The World Gold Council advises investors to view gold as a long-term safe-haven asset rather than a short-term speculative vehicle, recommending maintaining a 5%-10% allocation to gold in asset portfolios.

China's central bank has increased its gold holdings for the 11th consecutive month, with reserves reaching 74.06 million ounces by the end of September, though the pace of accumulation has slowed. Experts analyze that this move aims to optimize reserve structure, hedge financial risks, and control costs. The central bank may continue increasing gold holdings to raise its share in international reserves, as China's current gold reserve ratio of 7.7% remains below the global average of 15%.