According to CoinMeta, CITIC Construction Investment released its investment outlook for gold for 2027, stating that the core factor suppressing gold prices in 2026 came from rising real interest rates. Looking ahead to 2027, the room for further increases in real interest rates is limited, and the expectations for interest rate hikes have already been fully priced into the market. At the same time, continuous gold purchases by central banks around the world will provide support during any pullbacks in gold prices, leading to an expected upward trend in gold prices in 2027. In terms of risks, geopolitical conflicts between the United States and Iran, which drive up oil prices and thus affect inflation, remain the main risk factor for 2027, but it is anticipated that the impact of this factor on gold prices will be relatively weaker. Regarding gold stocks, safety inspections in the industry in 2026 led to temporary pressure on production, but it is expected that mines that ceased operations will gradually resume production in 2027, and production is expected to recover. The current valuation of the gold sector has sufficient safety margins. If gold prices rise, the gold sector is expected to see a double boost in both performance and valuation. It is recommended to prioritize investing in companies with strong production growth prospects, stable cost control, excellent resource endowments, and good corporate governance.