Gold finds support near 4245, with inflation and geopolitical risks remaining bullish.

(1) As of September 14, gold found strong support around 4245. (2) This area has been tested three times, and each time the price rebounded. (3) Some believe that gold remains resilient because fundamental analysis does not support a decline, even though the general market view is that with interest rates rising above 5%, one should sell gold and buy bonds. (4) This viewpoint argues that if US Treasury yields are higher, it signals market expectations of higher inflation, and under high inflation, only gold — not US Treasuries — protects capital. (5) On the other hand, the situation between the US and Iran remains pessimistic. (6) The opinion is that gold should rise, although this is only a personal view, and it is also noted that gold remains one of the assets most easily manipulated. This week's price movements are odd and lack news catalysts, so the source of trading volume warrants attention. (7) From a market perspective, real interest rates and geopolitical risks remain core variables for gold prices. Going forward, it is necessary to watch whether the support level holds and track changes in central bank gold purchases and speculative positions.