Group 1 - Gold has become the second largest reserve asset for global central banks, surpassing the euro, driven by record purchasing volumes and rising prices [1][4] - The European Central Bank reports that gold reserves have reached 36,000 tons, comparable to levels seen in 1965, with gold expected to account for 20% of global official reserves by 2024 [2][3] - Central banks are expected to continue purchasing over 1,000 tons of gold annually, representing 20% of global annual production, with significant purchases from countries like China, India, Turkey, and Poland [4] Group 2 - Gold prices are currently fluctuating, influenced by geopolitical conflicts and economic uncertainty, with market sentiment cautious ahead of U.S. inflation data [5] - The trend of de-dollarization has accelerated since the Russia-Ukraine conflict, with central banks increasingly viewing gold as a hedge against sanctions and geopolitical risks [5] - Wells Fargo predicts that uncertainties will drive gold prices higher, with expectations of a price drop to $3,000-$3,200 per ounce by year-end, followed by a rise to $3,600 by the end of 2026 [6][7]
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