According to CoinMeta, CITIC Construction Investment released its investment outlook for gold for 2027, stating that the room for further increases in real interest rates is limited in 2027, and gold prices are expected to rise in a volatile manner. In 2026, the main factor suppressing gold prices was the rise in real interest rates, which has already been fully priced in by the market due to the expectations of interest rate hikes. At the same time, continuous gold purchases by central banks around the world will provide support during periods of gold price corrections, helping to form a bottom. In terms of risks, geopolitical conflicts between the United States and Iran, which drive up oil prices and thus disrupt inflation, remain the main risk factor for 2027. However, it is expected that the impact of this factor on gold prices will be marginally reduced.