Nvidia(US:NVDA) Mei Ri Jing Ji Xin Wen·2025-09-06 02:57Group 1 - Global central banks' gold reserves have surpassed US Treasury bonds for the first time in 29 years, indicating a strategic shift towards physical assets like gold [4][5][8] - Central banks have been net buyers of gold for 14 consecutive quarters, reflecting a significant increase in gold holdings compared to stagnant US Treasury bond levels [8][10] - The World Gold Council reported that gold has become the second-largest reserve asset globally, following the US dollar, with a notable increase in purchases over the past three years [8][10] Group 2 - Analysts suggest that the current environment is reminiscent of the 1970s, where gold is viewed as a key asset for hedging against inflation and geopolitical uncertainties [5][16] - Gold prices have surged significantly, with a 36% increase in futures prices this year, outperforming the S&P 500 and Bitcoin [12][16] - Historical patterns indicate that gold experiences bull markets during major financial system changes, with the current situation potentially marking the beginning of a third major bull market for gold [15][16] Group 3 - The bond market is facing significant challenges, with US Treasury yields reaching multi-decade highs and a notable decline in bond prices, leading to a shift in investor sentiment towards gold [18][20] - The long-standing bull market in bonds is considered over, with rising yields reflecting concerns over inflation and debt sustainability [20][21] - Investors are increasingly viewing gold as a safer asset, contrasting with the rising risk premiums associated with US Treasury bonds [21][22] Group 4 - Major financial institutions are optimistic about gold's future price trajectory, with forecasts suggesting prices could reach between $3,675 and $4,500 per ounce by 2026 [22][23] - The collective bullish outlook on gold reflects deep concerns regarding the future of US Treasury bonds and broader macroeconomic risks [23]