Where exactly is this surge in gold coming from in 2569? At first glance, it might seem like it’s simply a matter of supply and demand, but the truth is much deeper. The reason why gold is rising is tied to structural changes in the global financial system that are currently taking place.

Let’s start with the most obvious part first. Thai gold prices in early this year reached 70,000 baht, which is a record high. And worldwide, prices are moving toward a target of 5,000 to 6,000 dollars per ounce. The Greenland incident earlier this January was an important catalyst. As tensions between the U.S. and Europe increased, investors rushed into gold for safety, causing prices to break through 5,600 dollars.

But if you want to understand why gold is continuing to rise, you have to look at foreign central banks. They have been net buyers of gold for 15 consecutive years. In 2569, they are expected to buy a total of 755 tons. Countries such as China, India, Poland, and Brazil are all fleeing the U.S. dollar because they fear their assets could be frozen, like Russia’s. Gold has therefore become the safest tool for diversifying risk.

The appreciation of the Thai baht is also interesting. When global gold prices jumped, Thai investors sold gold to take profits, and then used the dollars to exchange back into baht. Gold transactions account for 35% of all foreign exchange trading volume in Thailand. The result is that the baht has appreciated quickly, reaching 30.88 baht per dollar, the strongest level in nearly 5 years. The Bank of Thailand also sees this as a problem, so it has issued new measures, such as reporting large transactions and supporting increased trading in U.S. dollars.

Now, people are starting to show interest in new tools for trading gold, because actual physical gold bars at this time require a large amount of capital. CFDs through overseas brokers are an increasingly popular option, since they require far less capital, allow you to trade both long and short, and enable you to open and close positions immediately.

Major financial institutions are also shifting to a bullish outlook. Goldman Sachs targets 5,400 dollars. J.P. Morgan expects an average of 5,055 dollars in Q4 of this year, and it may reach 5,400 in 2570. Bank of America has an even farther target of 6,000 dollars. What’s particularly interesting is that the share of gold in global investment portfolios increased to 2.8% in 2569, and there is still plenty of room to expand further if investors start moving away from the bond market.

Inflation and interest rates also play a role. Even though the Fed is not rushing to cut interest rates significantly, the environment of low interest rates and inflation still above the 2% target is favorable for gold. The rise in U.S. public debt is also making people worry that the currency may lose value. Gold has therefore become the best tool for storing value.

From a technical perspective, the 5,000-dollar level is an important psychological barrier. If prices can hold above it, the next targets are 5,600 and 6,000 dollars. But if the price pulls back, the 4,680 to 4,750 dollar range is a strong support zone—an excellent opportunity for long-term accumulation.

The answer to “Is it still timely to buy now?” is “Yes, but don’t chase the price.” Prices are already at historical highs, so volatility is high. The best strategy is to wait for the price to dip first, and then enter. Why gold is rising is not a coincidence; it is the result of structural changes in the global financial system. Gold has already proven itself as the most valuable asset in difficult times, and it still has the potential to surge to 6,000 dollars in the long term.