Question 1: Who is buying gold now for hedging purposes? Question 2: Some traders are already using technical analysis to trade gold. When gold fulfills its hedging function, will buyers still use technical analysis? Question 3: Gold saw a maximum increase of 30% in January and a maximum decrease of 13.5% so far in February. Is gold now more like a safe-haven asset or a risk asset? Question 4: Based on questions 2 and 3, would those with hedging motives still dare to buy gold now? Question 5: Based on questions 1 and 4, does the logic of hedging motives driving up gold prices still hold true?

Gold prices are unlikely to rise in the short term.

Gold prices are unlikely to rise in the short term.