GF Securities: It is expected that London gold will consolidate and fluctuate before the end of the year, and will reach new highs after the first quarter of next year.

Jin10 data reported on November 4, Guangfa Securities research report states that the short-term points for gold are still not low, and the Volatility is relatively large, with geopolitical risks marginally receding. If there are no unexpected bullish factors to stimulate, it is expected that London gold will consolidate and fluctuate before the end of the year, and will reach new highs after the first quarter of next year. The continuation of gold's rise may meet two necessary conditions: (1) Implied Volatility falls to the levels of August and September; (2) There are new driving factors at the macro level.