Sou Hu Cai Jing·2025-12-26 02:55Group 1: Gold Market Insights - The international spot gold price reached a record high of $4,531.284 per ounce on December 26, 2023, following a strong upward trend that began on December 25 [1] - As of the latest update, spot gold has slightly retreated to $4,502.44 per ounce, reflecting a 0.51% increase [2] - The recent surge in gold prices is attributed to three main factors: the Federal Reserve's resumption of a loose monetary policy, a decline in the credibility of the US dollar, and escalating global geopolitical risks [4] Group 2: Silver Market Insights - Spot silver prices also saw significant increases, reaching a high of $75.142 per ounce, with the latest price at $74.584 per ounce, marking a 3.86% rise [1][2] - The silver market is characterized by its smaller scale and sensitivity to industrial demand, with current conditions indicating a tight physical market [5] - A critical indicator, the one-year silver swap rate minus US interest rates, has plummeted to -7.18%, suggesting a premium for immediate physical silver delivery over future contracts, indicating a potential "run" on the physical silver market [5][6]