Can I still get on board if the price reaches $3800 per ounce?

The price of gold is continuing to skyrocket. On September 23, the price of COMEX gold futures broke through the $3800 mark for the first time, reaching a high of $3824.6 per ounce, once again setting a new record. As the central price continues to rise, the international gold price has entered a new trading range. Since September, the international gold price has been rising rapidly, with a cumulative increase of over 8.5% so far, expanding to a 38% increase for the year, far exceeding the returns of major global stock indices and bonds. Foreign institutional investors are bullish on the gold price, with some even raising their target price expectations to as high as $5000. At this point in time, can investors still "get on board"? How should they do so? Xia Yingying, head of the precious metals and new energy research team at Nanhua Futures, said that the recent strong rally in gold prices is mainly due to the Fed's interest rate cuts, market concerns about stagflation risks in the US economy, and worries about the Fed's independence. Given the increased volatility in gold prices, it may be difficult to grasp the short-term rhythm. In the coming days, the domestic market will be entering a long holiday period, and investors should remain vigilant against price fluctuations during the holiday period due to the impact of US non-farm payroll data.