Core Viewpoint - The surge in gold prices is driven by geopolitical tensions, central bank purchases, technological demand, and the weakening of the US dollar [19] Price Dynamics - As of July 21, international gold prices rose over 1.5% in a single day, surpassing $3,400 per ounce, reaching a peak of $3,416.9, marking a five-week high [1] - COMEX gold futures also increased to $3,412 per ounce, while domestic gold futures reached 781.5 yuan per gram [1] Key Drivers - **Geopolitical Risks**: Tensions in the Middle East and escalating trade wars between the US and Europe have triggered panic buying in the market [2] - **Central Bank Strategies**: Global central banks have net purchased 1,000 tons of gold over three years, with China increasing its reserves to 7.39 million ounces (approximately 2,298.55 tons) [3] - **Dollar Weakness and Economic Risks**: Expectations of Federal Reserve rate cuts and rising US debt have weakened the dollar's credibility, enhancing gold's appeal as a non-sovereign asset [5] - **Technological Demand**: The use of gold in brain-machine interfaces and nano-scale chip wires is expected to increase demand significantly in the coming years [6] Market Impact - **Mining Companies**: Gold mining companies are experiencing substantial profit increases, with Zhongrun Resources projecting a net profit increase of 161.9% to 191% [7] - **Consumer Behavior**: There is a divergence in consumer purchasing behavior, with increased sales in branded gold stores but a shift towards lower-priced markets due to high prices [8] Investment Behavior - **Leverage Traders**: Some high-leverage gold traders have faced significant losses, with daily losses reaching 470,000 yuan [10] - **Long-term Investors**: Long-term investors are buying gold ETFs, bolstered by central bank purchasing trends [11] Future Trends and Predictions - **Bullish View**: Central bank purchases, dollar depreciation, and inflation risks support a bullish outlook, with Goldman Sachs predicting a price of $3,700 by the end of 2025 [12] - **Cautious View**: Concerns about geopolitical premiums fading and technical resistance suggest a potential price correction to $2,700 by 2026, according to Citigroup [12] - **Tech-Driven View**: The explosion in demand for brain-machine interfaces and chips is expected to support high prices, with a predicted annual increase of over 1,000 tons [12] Key Resistance Levels - A resistance level between $3,400 and $3,500 is noted, with a potential breakout indicating a new upward trend [13]

Group 1 - The core viewpoint of the articles indicates that the US dollar has regained stability amidst declining investor confidence, impacting gold prices which have retreated to $3411.37 per ounce, down 0.60% [1] - The upcoming Federal Reserve policy meeting, retail sales data, and geopolitical situations are identified as the three main factors influencing global markets this week [1] - The Federal Reserve is expected to maintain interest rates, but its economic forecasts and statements regarding future rate cuts will directly affect market perceptions of the dollar's trajectory [1] Group 2 - Gold prices showed a strong weekly performance, closing above $3400, breaking previous resistance levels, indicating a bullish trend [3] - The price of gold is supported by the $3258-60 range, and a breakdown below this level would indicate further bearish pressure [3] - The daily chart shows a recent breakthrough of resistance, with a bullish trend indicated by consecutive upward movements [3] Group 3 - The gold market experienced a significant rebound last week, with a strong bullish candlestick on the weekly chart, and the previous month's upper shadow has been completely engulfed [5] - The geopolitical tensions in the Middle East continue to drive safe-haven demand for gold, maintaining a solid upward trend in prices [5] - Two potential scenarios for gold prices are outlined: a bounce from $3410 leading to a rise, or a drop below this level followed by a subsequent rise [5]