Retail investors' speculation causing a surge in gold prices? Expert: Gold prices are expected to reach $3000 in the future

The price of gold in China has been rising in sync with the US dollar index and the US bond index since early March this year. Many market participants believe that this rise is mainly driven by a large number of retail investors on the Shanghai Futures Exchange. Chinese consumers and institutional investors are rushing to buy physical gold bars, and the People's Bank of China has been buying gold for 17 consecutive months. The CEO of the precious metals trading daily, Metals Daily, stated that this rise may be a result of large-scale speculation by highly leveraged Chinese investors. Renowned economists predict that the price of gold will reach $3,000 per ounce. The People's Bank of China has significant room in the coming years to approach the global gold reserve benchmark