In early trading on the 12th, spot gold prices surged strongly, breaking through $4,600 per ounce for the first time during the session to set a new record high. Prices had retreated slightly by the time of reporting, trading at $4,578.097 per ounce.
As a result, the per-gram prices for domestic gold jewelry brands also increased on the 12th. Inquiries revealed that Lao Miao Gold was quoted at 1,429 yuan per gram, a single-day increase of 22 yuan; Chow Sang Sang was quoted at 1,429 yuan per gram, up 19 yuan for the day; and Lao Feng Xiang was quoted at 1,428 yuan per gram, surging 29 yuan in a single day.
The latest report from the World Gold Council indicates that gold has performed exceptionally well in 2025, continuously setting new historical records. Based on current price levels, gold prices are expected to rise by another 15% to 30% in 2026. The World Gold Council anticipates that investment demand—particularly allocations through gold ETFs—will continue to be a key driver in the future, offsetting weak demand from the jewelry and technology sectors.
According to Shenyin & Wanguo Futures, from a macroeconomic perspective, recently released economic data shows easing inflation pressure and continued weakness in the U.S. job market, strengthening expectations for Federal Reserve interest rate cuts. With the global economy synchronously entering a rate-cutting cycle, the accommodative liquidity environment provides strong support for the rise in precious metals. For gold specifically, the underlying logic supporting its price—such as动摇美元信用动摇 (shaking confidence in the U.S. dollar) and central bank gold purchases—remains solid, suggesting the long-term upward trend for gold is likely to continue.
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