Spot gold yesterday surged to $2,858.2 per ounce, while Comex gold reached $2,886.1 per ounce, setting new all-time highs. Since the beginning of the year, both spot gold and Comex gold prices have risen by over 8%. One of the key drivers behind this rapid increase is the rise in global trade risks, prompting central banks worldwide to boost their gold reserves, thereby supporting prices. Additionally, heightened expectations of U.S. Federal Reserve rate cuts and declining real interest rates have further fueled demand for gold investments. Several investment banks and brokerage firms anticipate continued price growth, with Citigroup and China International Capital Corporation (CICC) forecasting that gold will surpass $3,000 per ounce.