Precious metals continue to surge, spot gold and silver hit new all-time highs

BlockBeats News, December 23, according to market data, precious metals continue to surge. Spot gold is currently quoted at $4,489.6 per ounce, setting a new historical high 50 times this year, with an annual increase of over 70%. Spot silver broke through $70 per ounce today, continuing to set new historical highs, with an annual increase of about 135%. Wall Street independent investment research firm Yardeni Research raised its gold price target for next year today, increasing the target for the end of 2026 to $6,000. In addition, it still expects the gold price to reach $10,000 by the end of 2029.

In addition, after China announced a new gold tax policy in November 2025, the cost of consumer gold has risen, with upstream tax burdens for non-investment gold (such as jewelry) increasing by about 7%, causing a short-term rise in retail gold prices. The gold price labeling method at Shenzhen Shuibei, the largest gold jewelry wholesale market in China, has also undergone multiple adjustments, and no longer distinguishes between "investment gold" and "jewelry gold".