The underlying support logic of this golden bull market has actually been quietly laid down in the past few years, and it is precisely the core of the current market divergence: the global wave of "de-dollarization" asset restructuring, the ongoing fermentation and diffusion of geopolitical conflicts, coupled with growing concerns about the independence of the Federal Reserve's policies, multiple factors have combined to make gold once again recognized by global investors as the "ultimate safe haven". A new consensus bullish on gold is gradually forming; however, skeptics firmly believe that as signals of economic recovery appear in major global economies, the market's demand for safe-haven assets will gradually fade. Whether the current new consensus on gold can stand firm must also pass through the critical hurdle of "short-term volatility intensifying"!

#比特币与黄金战争 The undercurrents in the gold market have already crossed the critical point, unleashing a massive wave sweeping the globe! Wall Street giant JPMorgan Chase suddenly dropped a bombshell that shocked the financial world—a clear prediction that gold prices will strongly target $5055/ounce in 2026! This is not a subjective conjecture as rumored in the market, but rather a hard-core mathematical deduction by its commodities team based on the stable global quarterly gold demand remaining at a high level of 566 tons. Behind this lies a silent yet turbulent drama of cross-border and cross-institutional capital migration! Funds within the market are frantically adding to their positions, while outside the market, there are voices questioning a bubble. The bullish and bearish camps are clearly divided, and market divergence has reached its peak!

In this grand drama of bull-bear battle, two previously hidden, mysterious massive funds are quietly emerging, becoming key players influencing market trends:

① A Chinese insurance giant has officially sounded the entry horn! Leading insurers such as PICC and China Life have successfully completed the first batch of gold-specific transactions in the domestic insurance sector, bringing trillions of yuan in long-term, stable incremental funds into the market. This not only fills the market's funding gap but also provides a solid "ballast" for the volatile gold bull market, greatly enhancing market confidence.

② The global central bank gold buying spree has never stopped. Central banks around the world continue to increase their gold holdings to optimize their foreign exchange reserve structures. Top Wall Street investment banks such as Goldman Sachs and TD Securities have collectively joined the bullish camp, giving optimistic targets of $4,400-$4,900 per ounce. However, on the other hand, market skepticism has never subsided—many short-term speculators believe that "the current gold price has excessively priced in future positive factors," and coupled with recent economic data fluctuations, the risk of a short-term correction is rising sharply. The fierce battle between bulls and bears has amplified the intraday volatility of the gold market, igniting market sentiment to a boiling point!