How much longer can the gold price rise? This question is actually not that complicated.

The long-term trend is there, and short-term fluctuations cannot be avoided—if you rush in now to chase the highs, it is highly likely that you are just sending your head to the market.

This year's market trend is quite fierce, rising over 60% and directly breaking the $4000 mark. Goldman Sachs conducted a survey, and over 70% of institutions are still bullish, with even 36% believing that it can reach $5000 next year. Sounds crazy? But if you think about it, the logic stands: central banks around the world continue to stockpile to support the market, expectations of interest rate cuts from the Federal Reserve lower the holding costs, and combined with geopolitical tensions and economic uncertainty—three forces pushing together, it's hard for gold, the "ultimate hard currency," not to rise.

However, speaking of which, the short-term risk signals have become very obvious. The RSI technical indicator is close to the critical point, and there are reports of ceasefire negotiations in the Russia-Ukraine situation, leading to a decrease in risk aversion sentiment. The probability of pulling back to around 4000 or even lower is quite high.

My opinion? Gold is no longer just a simple safe-haven asset; it has become a long-term strategic asset. But the rise is always a wave-like progression, and it cannot shoot straight up to the sky.

The smart approach is to wait for a pullback before taking action, don't foolishly buy in at high levels.

What do you think? Are you ready to enter the market during the pullback, or do you believe that $5000 is just the starting point? Let's discuss your thoughts in the comments.