Today, gold closed with a volatile upward trend, driven by both technical factors and market sentiment. From the data, gold ETF holdings increased by 2 tons, now reaching a level of 1067.13 tons. This signal is very clear—bullish funds are continuing to enter the market.

Top investment banks like UBS and Goldman Sachs have also raised their gold price forecasts. UBS has set a short-term target of $5,000 per ounce, while Goldman Sachs predicts $4,900 per ounce. It sounds like a good increase, but honestly— as retail investors, we need to think carefully about one question: how much of this potential rise can we safely lock in? After all, we don’t have tools like short hedging to protect ourselves.

On the technical side, today’s rise was actually driven by low volume, with both bulls and bears watching and waiting. This is normal, as gold inherently carries monetary attributes. The key is to weigh the risks and rewards on the scale. Holding gold can be profitable, but at the same time, we need to ask ourselves how much volatility we can withstand.