Core Viewpoint - Gold prices are expected to enter a new round of super bullish trends, driven by various factors including the expansion of gold-backed stablecoins and macroeconomic conditions [4][17]. Group 1: Recent Gold Price Trends - Since late August, gold prices have entered a new surge mode, reaching a historical high of $4,392 per ounce on October 17, with a cumulative increase of 10% over the last six trading days and a staggering 30% increase from August 20 to October 16 [6][18]. - The recent surge in gold prices is partly attributed to investor concerns over bad debts disclosed by two U.S. regional banks, which has driven a significant influx of capital into gold as a safe-haven asset [18]. Group 2: Factors Driving Gold Price Increases - The Federal Reserve's decision to cut interest rates on September 17 has been a key driver for the rise in gold prices, confirming previous predictions that gold would rise following such a move [8][19]. - The demand for stablecoins is booming, with projections indicating that global stablecoin transaction volumes could reach $15.6 trillion to $27.6 trillion in 2024, significantly surpassing the transaction volumes of Visa and Mastercard [12]. Group 3: Gold-Backed Stablecoins - The market anticipates substantial growth in gold-backed stablecoins, which are currently small in scale compared to other stablecoins. As of July, the market caps of PAXG and Tether Gold were only $0.9 billion and $0.8 billion, respectively, compared to $161 billion and $64 billion for USDT and USDC [12]. - The core advantages of gold-backed stablecoins stem from gold's scarcity and inflation-hedging properties, which provide stability and a hedge against systemic risks, especially during times of heightened demand for safe-haven assets [13]. Group 4: Long-Term Outlook for Gold Prices - The ongoing strong demand from central banks and stablecoin issuers for gold is expected to provide stable support for long-term gold price increases [18]. - Historical trends indicate that gold prices typically rise when the credibility of the U.S. dollar is undermined, and the current geopolitical tensions and trade frictions are contributing to this dynamic [19]. - The potential for a market shift from high-tech stocks to gold as a safe haven could further drive gold prices upward, especially as the market anticipates a peak in tech valuations [19].