Golden Finance reported that spot gold and silver prices have been rising due to multiple factors such as the central bank’s gold buying surge, the Federal Reserve’s interest rate cuts, and regional situations. Gold closed up sharply by 27% in 2024, the largest annual increase since 2010. During this period, it continued to set new historical highs, and once approached the US$2,800 mark in October. Silver closed up 21%, hitting a more than 10-year high of $34.86, and is now hovering around $28.9 an ounce. The overall performance of gold was stronger than that of silver, with gold and silver rising by 4.8% over the whole year.