JP MORGAN CHASE(US:JPM) Da Zhong Ri Bao·2025-12-23 05:14Group 1 - The core viewpoint of the articles indicates that geopolitical tensions and expectations of further interest rate cuts by the Federal Reserve are the main drivers behind the surge in gold prices, with COMEX gold surpassing $4500 per ounce and spot gold reaching $4490 per ounce, both setting historical highs [1][3] - Central banks around the world continue to purchase gold, and there has been a consistent inflow of funds into gold exchange-traded funds (ETFs), contributing to the rising gold prices. Data shows that gold-backed ETFs have seen inflows for five consecutive weeks, with total holdings increasing every month this year except for May [3] - Domestic gold jewelry prices have also risen significantly, with brands like Chow Tai Fook and Lao Miao Gold seeing prices exceed 1400 yuan per gram, reflecting daily increases of 36 yuan and 35 yuan respectively [3][5] Group 2 - The precious metals sector is experiencing active performance, with stocks such as Haotong Technology and Shandong Gold rising over 7%. Other companies like Zijin Mining and Chifeng Jilong Gold also saw gains [5] - Analysts from JPMorgan believe that gold prices have over 10% upside potential in the coming year, driven by tariff uncertainties and strong demand from ETFs and central banks. They project that gold could reach over $4000 per ounce by 2025 and potentially touch $5055 by the end of 2026, supported by new demand from Chinese insurance giants and the cryptocurrency community [5]