Core Viewpoint - The current dynamics of gold prices are influenced by various factors including the strength of the US dollar, geopolitical tensions, and central bank activities, leading to a mixed outlook for gold in the short and long term [3][4]. Group 1: Current Gold Prices - Domestic gold price (99.95%) is quoted at 778.1 CNY per gram, up by 0.36% [1]. - International gold price is reported at 3356.7 USD per ounce, down by 0.05% [2]. Group 2: Influencing Factors - **Dollar and Treasury Factors**: The recent rise in the US dollar index, reaching a two-year high of 105, along with strong economic data, has increased the cost of gold priced in dollars, leading to decreased demand. Additionally, rising long-term US Treasury yields have diminished the appeal of non-yielding gold [3]. - **Geopolitical and Trade Factors**: Ongoing geopolitical tensions, including the US's tariff policies and conflicts in regions like Ukraine and the Middle East, have heightened market fears, increasing the demand for gold as a safe-haven asset [3]. - **Central Bank and Investor Factors**: A global trend of central banks accumulating gold has emerged, with a net purchase of 24 tons by February 2025. This shift in supply and demand dynamics, along with a surge of younger investors entering the gold market, has contributed to increased market volatility [3]. Group 3: Price Outlook - Short-term gold prices are expected to be volatile due to the opposing pressures from a strong dollar and rising Treasury yields, contrasted with support from geopolitical tensions. Long-term prospects remain positive due to ongoing central bank purchases and persistent geopolitical risks, although changes in Federal Reserve interest rate expectations and economic data will significantly impact future gold prices [4].