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Precious Metals Rally Continues, Spot Gold and Silver Hit New All-Time Highs
BlockBeats News, December 23rd, according to market data, the precious metals continue to rise, with spot gold currently trading at $4489.6 per ounce, hitting a historical high for the 50th time this year, with a year-to-date increase of over 70%. Spot silver has broken through $70 per ounce today, reaching a new high, with a year-to-date increase of about 135%. Yardeni Research, an independent Wall Street investment research firm, raised its gold price target for next year today, raising the year-end 2026 target to $6000 per ounce, and still expects the price of gold to reach $10,000 per ounce by the end of 2029.
Furthermore, after China announced a new gold taxation policy in November 2025, which increased the cost of consumer gold, the upstream tax burden on non-investment gold (such as jewelry) increased by about 7%, leading to a short-term increase in retail gold prices. The pricing method for gold in Shuibei, the largest gold jewelry wholesale market in China, has also undergone multiple adjustments after the policy change, no longer distinguishing between "investment gold" and "jewelry gold." Today, the price of gold jewelry in Shuibei has reached 1118-1125 yuan/gram.
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