Core Insights - Gold prices have surged to record highs, with predictions from investor Jeffrey Gundlach suggesting that prices could reach $4,000 per ounce by the end of the year [1] Group 1: Short-term Factors - The recent increase in gold prices is primarily driven by the Federal Reserve's easing monetary policy, with market expectations for two more rate cuts of 25 basis points each in October and December [1] Group 2: Long-term Factors - The weakening of the US dollar, which has declined over 10% against a basket of six major currencies this year, is positively impacting gold prices, which have risen over 40% year-to-date [1] Group 3: Central Bank Actions - The demand for diversification in reserves among global central banks is also supporting the rise in gold prices [1]