主要观点一、行情回顾：本周（2025.10.27-2025.10.31），A 股SW商贸零售行业指数上涨1.63%，而沪深300 下跌0.43%，上证指数上涨0.11%。商贸零售在申万31 个一级行业中涨幅排名第8 位。二、核心逻辑：黄金珠宝：我们认为黄金长期避险和投资优势凸显，随着美联储预期持续降息、贸易摩擦扰动带动金价上涨，黄金珠宝需求预计持续增长，古法金与IP 金饰引领新潮流，25 年国内...
Source Link主要观点一、行情回顾：本周（2025.10.27-2025.10.31），A 股SW商贸零售行业指数上涨1.63%，而沪深300 下跌0.43%，上证指数上涨0.11%。商贸零售在申万31 个一级行业中涨幅排名第8 位。二、核心逻辑：黄金珠宝：我们认为黄金长期避险和投资优势凸显，随着美联储预期持续降息、贸易摩擦扰动带动金价上涨，黄金珠宝需求预计持续增长，古法金与IP 金饰引领新潮流，25 年国内...
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