世界黄金协会：2025年12月贵金属大涨但走势分化 白银铂金的变动显示出政策驱动型特征 黄金温和上行

Core Insights - The World Gold Council reported that precious metals experienced significant price increases in December, with a notable divergence in trends among different metals, indicating a policy-driven characteristic for silver and platinum, while gold showed a moderate upward movement [1] Group 1: Price Movements - Precious metal prices surged, achieving the highest year-on-year returns in 45 years [1] - The final wave of this price increase was particularly influenced by policy factors and short-term market supply tightening for metals other than gold [1] - December's price trends highlighted the internal divergence within precious metals, with physical supply constraints and policy distortions driving up silver and platinum prices [1] Group 2: Future Outlook - As the distorting factors dissipate, gold's resilience, shaped by macroeconomic concerns and structural demand, is likely to become more pronounced [1] - Future trends for gold will be influenced by policy risks, inflation expectations, and investor positioning [1] - The World Gold Council noted that global geopolitical events have benefited gold, and there are currently no signs indicating a change in this trend [1]