Core Viewpoint - Lombard Odier indicates that gold prices may continue to receive support for the remainder of 2025 due to increasing market risks, including inflation concerns, rising government debt, and a slowing U.S. economy [1] Group 1: Market Conditions - The backdrop for gold reaching historical highs includes heightened market risks such as inflation worries, escalating government debt, and a decelerating U.S. economy [1] - Since April, speculative positions have decreased, while demand has risen amid constrained supply, which is expected to further drive up gold prices [1] Group 2: Investment Trends - The flow of funds into ETFs has been a significant factor influencing gold, particularly in Asia [1] - If there are signs of a rebound in fund flow momentum, gold prices could see further increases [1] Group 3: Price Forecast - Lombard Odier has raised its 12-month gold price target to $3,900 per ounce [1]