Institution: As the "December rush" approaches, the possibility of gold prices hitting a new record high increases significantly.

According to Jin10, as the traditional peak sales season for gold in December approaches, gold prices have steadily remained above $4000 per ounce, increasing the likelihood of gold prices reaching a new historical high. From the East to the West, physical gold is expected to see huge demand around the end of the year, as the wedding season in Asia (especially India) coincides with the Christmas and New Year holidays in Europe and America. Central Banks around the world continue to purchase gold to build their forex reserves, and the continuous inflow of funds into gold ETFs also increases the possibility of gold prices setting a new historical high. Bart Melek, head of commodity strategy at TD Securities, stated that the recent likelihood of interest rate cuts in the U.S. is an added bonus for those bullish on gold. The most recent historical highs for New York gold futures and international spot gold prices were $4398 and $4381, respectively.