去年金价狂飙美元贬值全球资产加速去美元化

Core Insights - In 2025, global central banks increased their gold holdings to enhance portfolio diversity and stability, leading to a significant rise in international gold prices, which saw over 50 record highs throughout the year [1] - Conversely, the US dollar index fell from around 108 at the beginning of 2025 to approximately 98 by year-end, marking a cumulative decline of 9.4%, the worst performance in eight years [1] - The share of the US dollar in global foreign exchange reserves continued to decline, with the International Monetary Fund reporting a drop from 57.08% in Q2 2025 to 56.92% in Q3 2025, remaining below 60% for over ten consecutive quarters, the lowest level since 1995 [1] - The trend of de-dollarization is becoming more pronounced globally, as more countries increase their gold reserves, resulting in global central bank gold holdings surpassing US Treasury securities for the first time in nearly 30 years [1] - Experts indicate a decreasing risk appetite for dollar-denominated assets, suggesting that the downward trend in the dollar's share of global foreign exchange reserves is unlikely to reverse, leading to a more diversified international monetary system [1]