Prices of gold, silver, and copper continue reaching new highs. On December 24, China's A-share nonferrous metals sector strengthened, with Sinomine Resource Group Co., Ltd. rising over 6% by press time. Shengda Resources and Xingye Yinshi gained more than 4%, while other stocks including电工合金, Xingye Yinshi, New威凌, Northern Copper, and Shenzhen Xinsing followed the upward trend.
Spot gold broke above $4,520 per ounce for the first time on December 24, rising 0.84% intraday by 09:27. Year-to-date, gold has surged nearly $1,900. COMEX gold futures climbed 0.85%, briefly touching $4,550/oz. Spot silver extended gains to 1.13%, surpassing $72/oz for the first time, with a year-to-date increase exceeding 150%.
Platinum prices also soared to record highs, breaking $2,300/oz for the first time. The metal has risen for ten consecutive trading days—its longest winning streak since 2017—with annual gains surpassing 150%, marking the strongest yearly performance since data compilation began in 1987.
On December 23 evening, LME copper futures breached $12,000/ton after nearly a month of continuous gains, the first time this key industrial metal has reached the milestone. Year-to-date, copper has surged nearly 38%, on track for its biggest annual gain since 2009. The rally drove SHFE and COMEX copper futures higher.
Domestic precious metals futures also advanced, with platinum futures hitting limit-up, while silver and palladium contracts rose over 6%.
In China's retail gold market, major jewelry brands raised domestic足金prices. Latest quotes show: Lao Feng Xiang at ¥1,406/gram, Lao Miao Gold at ¥1,402/gram, Chow Sang Sang at ¥1,411/gram, Chow Tai Fook at ¥1,410/gram, and Luk Fook at ¥1,401/gram.
**Can Gold Rally Further After Record Highs?** With gold repeatedly hitting historic peaks, investors wonder how much higher prices can go. The World Gold Council predicts moderate gains if global growth slows and rates decline, but a 15%-30% surge to above $5,000/oz by 2026 in a "black swan" scenario like escalated geopolitical conflicts. Goldman Sachs revised its 2025 target to $4,800, citing widening U.S. fiscal deficits and dollar weakness, while UBS projects $5,000-$5,500 by 2026, calling gold the only hedge against "deglobalization" risks.
**To Buy or Sell at Peak Prices?** Strategic investors (3+ year horizon): Maintain allocation—gold serves as a portfolio stabilizer. Trend traders (under 3 months): Consider profit-taking at highs. New investors: Dollar-cost averaging may suit better than lump-sum bets to avoid volatility traps.
Investment decisions should be based on individual circumstances. Market data and analyst views are for reference only.
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