Huili Fund ETF Senior Strategist Zhao Shande stated that geopolitical uncertainty and central bank demand have become the main driving forces behind the recent gold price, and the bank continues to be bullish on gold performance in the second half of 2024. Even though a moderate pullback is expected each time the gold price surpasses historical highs, technically, any pullback to the strong support level of $2300 can provide investors with a good buying opportunity, reflecting gold's defensive strength. He mentioned that the attack on US presidential candidate Trump has increased his chances of being elected, and the bank expects this to accelerate the Fed's interest rate cuts and implementation of loose monetary policy. Additionally, the US's more aggressive foreign policy may exacerbate global geopolitical uncertainties, and gold is expected to benefit from safe-haven demand and a weakening US dollar. If gold prices continue to surge rapidly, they will once again challenge historical highs. Zhao Shande stated that the complex geopolitical and financial environment has made gold in national reserve management more important than ever. Gold continues to be favored by central banks as a reserve asset, and holdings will be reallocated to more appropriate levels to address higher market crises and inflation risks.