BlockBeats news, December 23, according to market data, precious metals continue their upward trend, with spot gold currently quoted at $4,489.6 per ounce, hitting a record high 50 times this year, with an annual gain exceeding 70%. Spot silver broke through $70 per ounce today, reaching a new all-time high, with an annual increase of approximately 135%. Wall Street independent investment research firm Yardeni Research today raised its gold price target for next year, lifting the year-end 2026 target to $6,000, and still expects gold to reach $10,000 by the end of 2029.
Additionally, after China announced new gold tax policies in November 2025, which raised the cost of consumer gold, upstream tax burdens for non-investment gold (such as jewelry) increased by about 7%, leading to a short-term rise in retail gold prices. The pricing method at Shenzhen Shuibei, China’s largest wholesale market for gold jewelry, has also undergone multiple adjustments, no longer distinguishing between ‘investment gold’ and ‘jewelry gold’.
