Analysts: Recent gold price movements have shown clear signs of a "squeeze".

Rick de los Reyes, head of commodities and fund manager at T. Rowe Price, said gold is likely to consolidate in the near term before potentially reaching new highs. In an email, Reyes analyzed that the recent surge in gold prices was extremely rapid, exhibiting typical "squeeze" characteristics, causing prices to be pushed up within a very short timeframe. He pointed out that historically, a surge in actual volatility is often followed by a period of consolidation before the upward trend resumes. While overcrowding in any asset can pose risks, Reyes added that the underlying drivers supporting gold demand remain solid. (Jinshi)