国内黄金饰品店应声上调黄金饰品价格，周生生、老庙黄金等品牌足金饰品价格于18日分别上涨至910元/克和904元/克，较前一日调涨3元/克和2元/克。Source: Wind
The price of Gold continues to rise, setting new historical highs.
On March 18, the main contract of domestic Shanghai gold futures broke through 700 yuan per gram, with the London spot gold reaching a high of 3034.34 USD per ounce, setting a new historical high; COMEX gold futures prices peaked at 3047.5 USD per ounce.
Domestic gold trinket stores promptly raised gold trinket prices, with brands like CHOW SANG SANG and Laomiao Gold raising the prices of their pure gold trinkets to 910 yuan per gram and 904 yuan per gram respectively on the 18th, an increase of 3 yuan per gram and 2 yuan per gram compared to the previous day.
When discussing the reasons for the surge in gold prices, GF SEC's Wealth Management Department pointed out that the weakening of US dollar credit, alongside a surge in risk aversion and demand for asset allocation, is driving this increase. The worsening of the US fiscal deficit and trade protection policies are impacting dollar credit, and amid the trend of "de-dollarization," the demand for gold as an alternative reserve asset continues to rise.
The gold sector leads the market.
On March 18, influenced by the bullish factor of gold prices reaching a new high, the Gold ETF dominated the Top Gainers of theme ETFs.
Among the top gaining theme ETFs, the top three are all gold ETFs. Ping An CSI Hong Kong and Shanghai Gold Industry Stocks ETF (159322.SZ) and Hua'an CSI Hong Kong and Shanghai Gold Industry Stocks ETF (159321.SZ) increased by 4.62% and 4.16% respectively, securing the top two positions in the gainers list.
Regarding individual stocks, on March 18, Hong Kong stocks $LINGBAO GOLD-1K (03330.HK)$ Increased by over 7%,$SD GOLD (01787.HK)$Increased by nearly 7%,$ZHAOJIN MINING (01818.HK)$Increased by nearly 6%,$ZIJIN MINING (02899.HK)$Increased by over 4% ..
Institutions are raising their Target Prices one after another.
As Gold prices continue to set new historical highs, multiple institutions are raising their Gold Target Prices.
Analysts from UBS Group mentioned in a report that Gold prices are expected to reach $3,200 per ounce over the next four quarters, an increase from the previous long-term forecast of $3,000 per ounce, due to increased uncertainty in the Global trade situation.
Analysts from Macquarie Group indicated that Gold's safe-haven status may propel it to a record high of $3,500 per ounce in the third quarter. Analysts such as Marcus Garvey stated in a report that the average Gold price during this period may be around $3,150 per ounce. Analysts expect growing concerns about an increase in the USA deficit will provide further support for Gold prices.
Macquarie stated that if the USA budget outlook worsens, it implies that inflation may rise, which would be beneficial for Gold as a safe-haven tool. "We believe that the strength of Gold prices so far and the ongoing bullish trend are primarily due to investors and official institutions being more willing to pay for Gold that has no credit or counterparty risk," the analyst stated.
Li Xunlei, Chief Economist at Zhongtai International and Vice Chairman of the China Chief Economist Forum, pointed out that the logic of allocating Gold is sound, as Gold is bullish in the long term. Against the backdrop of a slowing Global economy, the increase in Gold prices may not be as significant in 2025 as last year. For average individuals wanting to participate, it is advisable not to chase the highs and to wait for a correction before buying. In terms of positioning, Li Xunlei recommends a 20% allocation in Gold when investing, but advises against putting 100% of assets into Gold.
Editor/jayden
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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