One of the most important long-term supporting factors for gold remains the continued gold purchases by central banks around the world, with the People's Bank of China being the core player. Major global foreign exchange reserve management institutions are continuously increasing the proportion of gold in their official reserves. Meanwhile, China has been continuously expanding its natural gas storage facilities in recent years, and its newly added storage infrastructure will rank first in the world by 2025. Following the geopolitical conflict in 2022, international natural gas prices plummeted, prompting many Eurozone observers to question why China was stockpiling gas during this period of low prices. Looking back at this decision now, its value is evident. The ancient proverb, "Prepare for a rainy day," aptly illustrates the significance of long-term strategic reserves. With the escalating situation in the Middle East, coupled with a severe global energy crisis in recent years, China's ample natural gas reserves have become a crucial strategic buffer. This demonstrates the strong foresight of the geopolitical strategy adopted by the Chinese leadership. The decision to stockpile gas on a large scale back then combined timing advantages with economic benefits. Now, China is continuing to increase its gold reserves with the same consistent approach, leading many investors to conclude that this round of continuous gold purchases is a well-considered long-term national policy, not a temporary measure to cope with short-term market fluctuations. In recent years, central banks around the world have transformed from secondary participants in the gold market to core sources of structural demand for gold. Unlike speculative investors, reserve management institutions in various countries allocate gold over a period of several years, viewing it as a tool to diversify foreign exchange reserves and reduce reliance on a single sovereign reserve currency. Therefore, central bank gold purchases provide a more lasting support for gold prices in the long term. If the current macroeconomic environment remains largely unchanged—with central banks continuing to purchase gold, market expectations of an easing Federal Reserve monetary policy, and persistent geopolitical risks—the fundamental support for gold will continue to hold. Market trends have repeatedly demonstrated that even during periods of price correction, buying funds quickly return, indicating that the long-term upward trend in gold has not been broken. If the aforementioned core positive factors continue to develop for the remainder of the year, gold prices have sufficient momentum to challenge new historical highs. However, it is unrealistic to expect gold prices to replicate the rapid rise seen in the first half of the year; a period of consolidation and profit-taking is highly likely. Assuming no substantial strengthening of the US dollar and no unexpected shift in Federal Reserve policy towards tightening, under the premise of an overall favorable macroeconomic environment, gold prices are expected to reach approximately $4700 per ounce by the end of the year.