Constructing a call for next year's gold price to continue rising! The driving forces behind the new high are emerging.

On December 22, the international precious metals market collectively rose, with spot gold breaking through $4420/ounce during the session, and the main contract for gold futures on the New York Mercantile Exchange briefly climbing above $4450/ounce, both setting new historical records.

Bloomberg pointed out that the combination of geopolitical tensions and strong market expectations for further interest rate cuts by the Federal Reserve are the core driving factors behind this surge in gold prices. The Wall Street Journal also mentioned that due to concerns about the prospects of mainstream currencies such as the US dollar, a large number of investors are flocking to the gold market in search of asset protection.

Institutions are firm on their outlook for gold, with Goldman Sachs clearly stating in a research report released on December 18 that it expects gold prices to rise to $4900/ounce by the end of 2026.