Gold breaks 4200, silver approaches 59! Three major drivers ignite the precious metals bull market
On the morning of December 8, spot gold stabilized at a historical high of 4200 USD/ounce, and silver approached 59 USD, with the bull market driven by three core logics:
1. Full expectation of Fed rate cuts: The probability of a 25 basis point rate cut in December's rate decision exceeds 86%, reducing the cost of holding non-interest-bearing assets and significantly increasing the attractiveness of precious metals.
2. Global central bank gold hoarding trend continues: The People's Bank of China has increased its gold holdings for 13 consecutive months, with global central banks purchasing 220 tons of gold in the third quarter, setting a record and strengthening gold price support through de-dollarization.
3. Silver industrial demand surges: The consumption of silver in photovoltaics, new energy vehicles, and AI servers has surged, widening the supply-demand gap and driving silver prices sharply higher.
The key to the future market lies in the outcome of rate cuts; if easing signals are realized, the precious metals bull market may continue.
