PANews reported on February 2nd that, according to Cailian Press, Citigroup warned that gold valuations have reached extreme levels, with global gold spending as a percentage of GDP surging to 0.7%, the highest in 55 years. If gold allocations return to the historical norm of 0.35%-0.4%, gold prices will face the risk of being halved. With the potential for an agreement on the Russia-Ukraine conflict in the second half of 2026, a strengthening US economy, and the confirmation of the Federal Reserve's independence, the collective waning of safe-haven demand will remove the last pillar supporting gold prices.