现货黄金突破4000美元，是顶点还是新起点？

Group 1 - The core viewpoint of the articles highlights the significant rise in gold prices, with spot gold reaching $4000.49 per ounce and a year-to-date increase of over 50% [2][6] - On October 8, domestic gold jewelry prices in China surpassed 1160 yuan per gram, with notable brands like Lao Miao and Chow Sang Sang reaching 1176 yuan and 1165 yuan per gram respectively [3] - The recent surge in gold prices is attributed to geopolitical tensions, aggressive U.S. trade policies, and central banks' increased gold purchases, which have collectively driven gold's price up significantly [6][7] Group 2 - The People's Bank of China has continued to increase its gold reserves, reaching 7406 million ounces by the end of September, marking the 11th consecutive month of accumulation [7] - Goldman Sachs has raised its gold price target for the end of 2026 to $4900 per ounce, citing strong demand from Western ETFs, central banks, and speculative positions [8][9] - UBS forecasts that gold prices will reach $4200 per ounce by the end of this year, driven by fundamental and momentum support, with key variables including the Federal Reserve's interest rate path and geopolitical risks [9]