速看！央行连续14个月增持黄金

Core Viewpoint - The central theme of the news is the continuous increase in gold reserves by the central bank, driven by changing global political and economic conditions, suggesting a long-term bullish outlook for gold prices [1][4]. Group 1: Central Bank Gold Reserves - As of December 2025, the central bank holds 74.15 million ounces of gold, an increase of 30,000 ounces from the previous month, marking 14 consecutive months of gold accumulation since November 2024 [1][2]. - The total value of gold reserves increased from approximately 3106.47 billion USD in November 2025 to 3194.50 billion USD in December 2025 [2]. Group 2: Gold Price Trends - Gold prices have surged from 1826 USD/ounce at the beginning of 2023 to around 4460 USD/ounce, with a peak of 4549.52 USD/ounce, reflecting a more than 60% increase over the past year [4][8]. - The World Gold Council forecasts a potential further increase in gold prices by 15% to 30% in 2026, driven by investment demand, particularly through gold ETFs [4]. Group 3: Market Analysis and Predictions - Analysts from Guojin Securities indicate that despite a potential slowdown in central bank gold purchases in 2025, speculative funds are expected to drive gold prices higher, with a structural bull market foundation remaining solid into 2026 [6][7]. - International banks, including Bank of America and Societe Generale, predict that gold prices could reach between 4900 USD and 5000 USD per ounce by the end of 2026, emphasizing the importance of gold as a hedge in investment portfolios [8][9].