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Core Viewpoint - The ongoing geopolitical tensions and trade disputes are driving demand for gold as a safe-haven asset, leading to increased activity in gold ETFs and stocks [1][2]. Geopolitical Risks - The U.S. State Department has urged citizens to evacuate Iran amid ongoing conflicts, while President Trump has delayed military action against Iran, creating uncertainty in the region [1]. - In Venezuela, the finance minister indicated that the U.S. might further ease sanctions to boost oil exports, with Trump encouraging U.S. oil companies to invest $100 billion in restoring Venezuela's energy infrastructure [1]. Trade Disputes - President Trump announced a 10% tariff on goods from eight European countries starting February 1, which will increase to 25% in June unless an agreement regarding the "purchase of Greenland" is reached [1]. - Several European nations have deployed troops to Greenland for military exercises, reflecting rising geopolitical tensions [1]. Market Outlook - In the short term, ongoing geopolitical conflicts and renewed trade disputes are expected to support gold prices, although there is a risk of profit-taking after recent highs [2]. - The medium to long-term outlook for gold remains positive due to factors such as the Federal Reserve's interest rate cuts, increasing global uncertainties, and a trend towards de-dollarization [2]. - Investors are encouraged to monitor opportunities in gold ETFs (518800) and gold stock ETFs (517400) [2].