金银铂钯齐涨，贵金属缘何连创新高？

Core Viewpoint - The precious metals market, particularly gold, silver, platinum, and palladium, has experienced significant price increases, driven by multiple factors including market sentiment and concerns over the U.S. dollar's credibility [1][2]. Group 1: Gold Market Performance - On December 24, gold prices reached a historic high, surpassing $4,500 per ounce for the first time [1]. - In China, the price of gold hit 1,017 yuan per gram, with gold jewelry prices rising to 1,410 yuan per gram [1]. - Gold prices have set new records over 40 times this year, exceeding the total highs of the previous year [2]. Group 2: Silver and Other Precious Metals - Silver prices have surged nearly 50% in Q4, breaking the $70 per ounce mark and continuing to rise above $72 [1]. - Year-to-date, silver and platinum prices have increased by over 140%, while palladium has risen by over 100% [1]. - The industrial demand for silver, driven by sectors like photovoltaics and electric vehicles, has significantly supported its price increase [2]. Group 3: Market Drivers - The rise in precious metal prices is attributed to concerns over U.S. dollar credit and sovereign debt, alongside traditional factors like inflation and geopolitical tensions [2]. - Analysts suggest that the expansion of U.S. debt has made precious metals more attractive as safe-haven assets [2]. - The demand for platinum is also expected to grow due to its use in catalysts and the emerging hydrogen energy sector [2]. Group 4: Investment Trends - On December 23, global ETF holdings for gold and silver increased by approximately 12 tons and 533 tons, respectively, indicating heightened investor interest [3]. - The sustainability of the current bullish trend in precious metals will depend on ongoing market demand and investor sentiment [3].