JP MORGAN CHASE(US:JPM) Sou Hu Cai Jing·2025-12-24 11:51Group 1 - The core viewpoint of the article highlights that international banks are expanding their precious metals trading departments and logistics capabilities to capitalize on the rising prices of gold and silver, which have reached historic highs [1][6] - The international spot gold price surpassed $4,500 per ounce on December 24, marking a record high [1] - Precious metals trading revenue for 12 leading banks is approximately $1.4 billion for the first nine months of the year, positioning 2025 to potentially be the second most profitable year for gold trading on record, following 2020 [6] Group 2 - Major banks, including Societe Generale, Morgan Stanley, and Mitsui, have expanded their precious metals teams this year, indicating a renewed interest in the sector [6] - Some banks that previously closed their precious metals trading departments are now re-entering the market, reflecting a significant shift in the financial landscape [6] - The performance of gold has significantly outpaced that of Bitcoin, with gold prices increasing by 70% this year, while Bitcoin has seen a decline of 6% [7]