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⑴ JPMorgan on Wednesday raised its long-term gold forecast to $4,500 per ounce, while maintaining its end-2026 target at $6,300. The bank stated that increased central bank buying, the public announcement of U.S. Treasury divestment, and countries shifting their income base from the U.S. dollar to the renminbi have prompted it to place greater emphasis on the “reserve currency paradigm shift” and “significant investor diversification.” ⑵ Spot gold has risen about 20% this year, hitting a three-week high of $5,248.89 on Tuesday, but still below the all-time peak of $5,594.82 set on January 29. Previously, in 2025, gold surged by more than 64%. The bank pointed out that, due to the unique supply and demand dynamics of gold compared to other commodities, many long-term pricing tools used for industrial goods, such as incentive pricing and marginal cost analysis, may be less applicable. ⑶ Geopolitical risks, the Federal Reserve's accommodative interest rate cycle, central bank buying, and gold ETF inflows have jointly driven gold prices to repeatedly hit new highs over the past year. The low interest rate environment is favorable for non-yielding gold.

Glonghui, February 25｜The British spirits manufacturing giant's shares fell 6.5% to $95.5 in pre-market trading on a certain exchange. According to reports, the exchange stated on Wednesday that its profit for the first half of the fiscal year increased year-on-year, but sales declined compared to the same period last year. For the 2026 fiscal year, the company expects organic net sales to decrease by 2% to 3%, while the organic operating profit growth rate will range from flat to low single-digit growth.

The popularity ranking shows that ESP's popularity has increased by 10,000 compared to yesterday, ranking first. The popularity ranking is as follows: ① ESP ($0.1626, -18.33%) ② XAUT ($5169.97, 0.37%) ③ ETH ($1911.59, 4.86%) ④ ENSO ($2.76, 32.06%) ⑤ POWER ($0.7140, 22.05%). ESP has strong main capital inflow, with a net inflow of $1.4406 million in 24 hours and a 24-hour trading volume of $784 million, of which the main net inflow is $333,700.