After reviewing recent research reports from several leading investment banks, including Goldman Sachs and Morgan Stanley, their views are surprisingly consistent — gold prices will continue to rise, with target price ranges between $4,500 and $6,000. Although it’s unlikely to hit new highs again, the current level is probably not far from the top. For medium- to long-term investors, this stage may not be suitable for holding tightly; short-term swing trading might be a more rational choice.

An even more interesting data point is that, for the first time since 1996, gold has surpassed US Treasuries to become the largest asset in global central bank reserves. What does this reflect? The reliance on single sovereign credit is gradually decreasing, and the process of re-pricing monetary anchors is underway. Of course, this process also carries risks.

Additionally, occasional regional geopolitical conflicts emerge, and the old way of resolving economic crises often involves initiating wars — history has repeatedly proven this. In this context, the demand for safe-haven assets remains strong. This is actually a positive signal for the crypto market, as mainstream cryptocurrencies like BTC, ETH, and SOL still have opportunities for rebound.