Anita Soni, an analyst in the capital markets department of the Canadian Imperial Bank of Commerce, predicts in the latest forecast that the price of gold will rise to $4,500 per ounce in 2026 and 2027, then fall to $4,250 in 2028 and $4,000 in 2029. The analyst still expects gold to face a positive macroeconomic environment. The uncertainty of tariff policies will continue to exist, and the negative impact of tariffs that have been implemented and those that are about to be implemented on consumer purchasing power has not yet fully manifested in the U.S. economy. At the same time, the Federal Reserve yielded to Trump's calls for interest rate cuts earlier than Soni expected. Soni believes that the earlier rise in the price of gold this year was related to interest rate cuts, but the recent parabolic surge is due to concerns about long-term inflation and wealth preservation, as the Fed's monetary policy has not specifically focused on long-term inflation.