On May 20th, Jinshi data reported that as people are becoming more optimistic about the Federal Reserve's easing of monetary policy this year and the intensification of geopolitical tensions in the Middle East, the price of gold has soared to a historic high. During the Asian session, the price of gold rose by 1.4%, reaching $2450 per ounce, surpassing the intraday record set in April. Nicholas Frappell, Global General Manager of the ABC Refinery, said, "The rise in gold prices is driven by news of the uncertainty in the situation in Iran." "In the case of very limited information, there will inevitably be factors that lead to hasty conclusions," he said, "Given the low level of liquidity in Asia, investors may be reluctant to reduce their positions." The latest data from the CFTC shows that hedge funds for Comex futures pushed up bullish bets on gold to a three-week high as of the week ending May 14th. This increase indicates that gold has broken out of the relatively narrow trading range of the past few weeks, as there is a lack of clarity in the path of US interest rates.