On December 12, futures gold and spot gold both rose rapidly in early trading. The surge in the international gold price has led to a further increase in domestic gold retail and jewellery prices. The domestic gold price of 483 yuan per gram has broken through the peak of domestic wholesale gold prices, which is the highest in recent years. Central banks' gold holdings increased by 14% y-o-y in the first three quarters of this year. The Federal Reserve's monetary policy, the trend of the US dollar, and geopolitical tensions are several major factors to boost gold price.