According to CoinMeta, the article states that the biggest uncertainty in the current gold price trend still lies with the Federal Reserve's monetary policy. The core trading logic behind the recent strengthening of gold prices is the weakening of the U.S. economy and the conclusion of the interest rate hike cycle, but there are still variables regarding inflation trends. If inflation rebounds unexpectedly again, the Federal Reserve will continue its high-interest-rate stance, and as U.S. Treasury yields rise, the logic supporting gold prices will change, potentially leading to a rapid correction in gold prices. In addition, the rapid short-term increase has accumulated significant profits, and the risk of overbought conditions on a technical level is rising; therefore, the pressure for a technical correction cannot be ignored. As for gold prices, overseas speculative funds closely monitor changes in monetary policy, entering and exiting quickly, which amplifies short-term market fluctuations. On the other hand, central banks around the world are focused on long-term strategies, buying on dips and steadily increasing their holdings. The competition between these two forces means that it is difficult for gold prices to move in a one-way direction; high-level volatility and an overall upward shift in the center of gravity may become the norm in the future. Against this backdrop, ordinary investors should avoid blindly chasing high prices and must consider their own risk tolerance when viewing gold price fluctuations from a long-term investment perspective.