CITIC SEC Research Reports indicate that the liquidity crisis triggered by Trump's tariff policy was the reason for the previous sharp decline in Gold prices. Geopolitical disturbances have catalyzed the demand for Gold from Global central banks and markets. The subsequent actions of the Trump administration still carry great uncertainty, and Gold prices may continue to fluctuate significantly; however, the damage to the credibility of the dollar system caused by the Trump administration is irreversible, which will reinforce the monetary properties of Gold and push up the price center. Under neutral assumptions, Gold prices are expected to reach $3,337 per ounce by mid-2025, and under optimistic and pessimistic assumptions, they may reach $3,620 per ounce and $3,081 per ounce, respectively.