黄金有望超越美债，成为美国海外政府持有的最大储备资产

Core Viewpoint - Gold is expected to surpass U.S. Treasury bonds as the largest reserve asset held by foreign governments, driven by a surge in gold prices and active purchases by central banks [1] Group 1: Gold Reserves - The total official gold reserves held by foreign governments exceed 900 million troy ounces, valued at approximately $3.82 trillion based on gold prices as of November 30 [1] - By the end of the year, if the central banks' gold reserves remain unchanged, the value of these reserves is projected to reach $3.93 trillion, surpassing the value of U.S. Treasury bonds held by foreign governments [1] Group 2: U.S. Treasury Bonds - As of October, the value of U.S. Treasury bonds held by foreign governments was nearly $3.88 trillion [1]