[CITIC Securities Predicts Year-End Gold Price May Exceed $3,730] CITIC Securities' research report points out that due to factors such as tariffs, U.S. fiscal policies, geopolitical tensions, and central bank gold purchases, gold prices have been fluctuating recently but may see an upward trend in the future. The report predicts that the Federal Reserve may cut interest rates earlier than expected, geopolitical risks are unlikely to ease in the short term, and the global trend of central bank gold purchases remains stable. Under a neutral assumption, the year-end gold price is expected to surpass $3,730 per ounce.