Internet reports that driven by trade war concerns and central bank increases in holdings, Citi and UBS raised their gold price forecasts, expecting the gold bull market to continue. Citi raised its short-term price target to $3000 an ounce and raised its full-year average price forecast from $2800 to $2900;UBS also raised its 12-month price target to $3000. At present, gold has risen to US$2860, an increase of about 9% during the year. At the same time, benefiting from the rise in gold prices, gold-backed tokens such as PAXG and XAUT have outperformed the crypto market. It is expected that if gold prices continue to rise, such assets will further benefit.