Core Viewpoint - The recent surge in gold prices has reached a historic high, surpassing the peak from the 1980s, driven by concerns over the stability of the US dollar and global geopolitical tensions [2][4][8] Group 1: Gold Price Surge - As of September 12, the international spot gold price hit $2,420 per ounce, marking a 15% increase compared to the same period last year [2] - The current gold market is more stable than in 1980, with a broader participation from retail investors, central banks, and ETFs, providing a buffer against extreme volatility [6][10] Group 2: US Dollar Concerns - The US federal government debt has exceeded $35 trillion, with each American bearing over $100,000 in debt, raising doubts about the sustainability of the dollar's value [4] - The Federal Reserve's inconsistent monetary policy, including recent hints at interest rate cuts, has led to a loss of confidence among investors in dollar-denominated assets [6] Group 3: Geopolitical Tensions - Ongoing conflicts in the Middle East and Europe, along with trade frictions, have increased market uncertainty, prompting investors to seek safe-haven assets like gold [8] - Gold has historically served as a "hard currency" during turbulent times, providing a sense of security for investors [8] Group 4: Central Bank Strategies - Emerging market countries have been actively increasing their gold reserves, reflecting a strategic shift away from reliance on the US dollar [10] - This trend of central banks accumulating gold is seen as a structural support for gold prices, contrasting with the speculative nature of the 1980s gold rush [10]