On December 12, the international spot gold price broke through 4350 USD/ounce, just a step away from the historical high, with the New York Mercantile Exchange's February gold futures closing up 0.35%. Domestic Lao Miao gold and Chow Sang Sang gold jewelry prices exceeded 1350 CNY/gram, sparking market discussions.

Central bank purchases of gold are the core support, with global central banks net increasing gold holdings by 53 tons in October, a month-on-month increase of 36%, setting a new monthly high for the year; gold prices have refreshed historical peaks over 50 times this year, with a cumulative return exceeding 60%.

Institutions project for 2026, the World Gold Council believes that geopolitical economic risks and expectations of interest rate cuts will support gold prices; Goldman Sachs is optimistic about gold prices rising to 4900 USD/ounce and expects continued demand for gold purchases from emerging market central banks. #加密市场反弹