Core Viewpoint - Analysts from Philip Nova suggest that if spot gold prices continue to break above $3,500, gold prices may reach a range of $3,600 to $3,900 per ounce in the coming months driven by factors such as interest rate cut expectations, political turmoil, and strong ETF demand [1] Group 1 - Spot gold prices are currently experiencing upward momentum, with a potential target range of $3,600 to $3,900 per ounce [1] - The shift in gold's role from a tactical hedge to a strategic asset for many investors is influenced by various market factors [1] - Key drivers for this shift include expectations of interest rate cuts, ongoing political instability, and robust demand for gold ETFs [1]