Well, even though gold prices hit the new record, it is not over yet. We might see even higher numbers, but how it will be?

There are few reasons:

Anticipated Fed rate cuts weakening the dollar and bond yields;

Recession fears driving safe-haven demand;

Ongoing geopolitical tensions;

Sustained central bank buying and de-dollarization trends;

Chinese consumers seeking value preservation amid economic instability;

Inflation hedging;

Technical momentum from the ongoing price rally.

Who knows, we might see even a $2700 or $3000 per ounce. But only time will tell.