黄金登顶全球央行储备榜首，为何被各国央行看好？

Group 1: Core Insights - Gold has surpassed US Treasury bonds to become the most favored asset among global central banks, reflecting a growing recognition of its value as a reserve asset [1][3] - The share of gold in global central bank reserves has exceeded that of US Treasury bonds for the first time since 1996, indicating a significant shift in asset allocation strategies [1] - Over 90% of surveyed central banks expect to increase their gold reserves in the next 12 months, marking a 17 percentage point increase from the previous year, the highest since the survey began in 2019 [7] Group 2: Reasons for Central Bank Preference - The decline of the Bretton Woods system and geopolitical tensions, such as the Russia-Ukraine conflict, have led to a loss of trust in the US dollar, prompting central banks to increase gold purchases [1][5] - The high level of US national debt, which has surpassed $37 trillion, has further eroded confidence in the dollar, with the debt-to-GDP ratio reaching approximately 126.8% [3] - Political polarization in the US has increased uncertainty in policies, leading to a preference for gold as a hedge against potential risks associated with the dollar system [5][7] Group 3: Investment Strategies - For investors who have not yet invested in gold but are optimistic about its future, a gradual accumulation strategy is recommended to mitigate risks associated with high volatility [8] - Investors already holding gold may consider adjusting their positions based on market conditions, particularly around key events such as the Federal Reserve's meetings [8] - Different investment products are available for various risk appetites, including gold stocks, ETFs, and balanced funds, catering to aggressive, moderate, and conservative investors [10][11]