Group 1 - The core viewpoint of the articles highlights the rising gold prices, with spot gold reaching a historical high of $3703.13 per ounce, indicating strong market interest and potential investment opportunities in gold [1][3] - The future trajectory of gold prices is influenced by three main variables: the length of the Federal Reserve's interest rate cut cycle, the evolution of geopolitical risks, and the pace of global economic restructuring [3] - Central banks' ongoing accumulation of gold reflects a growing distrust in the existing dollar-dominated monetary system, suggesting a potential shift in the global monetary landscape [2][3] Group 2 - The market is currently focused on the Federal Reserve's September interest rate decision, with expectations of a 25 basis point cut already factored into current prices; however, a surprise 50 basis point cut could further boost gold prices [3] - Geopolitical risks, while currently reflected in gold prices, are characterized by their unpredictable and transient nature, with the long-term trend being more influenced by global economic slowdown and trade fragmentation [3] - In a "low growth, high fragmentation" environment, gold is expected to perform well as a crisis hedge, particularly if global trade growth declines [3]