Core Insights - The share of the US dollar in central bank reserves is declining, while gold is being increasingly reallocated by many countries [1] - For the first time since 1996, gold's share in central bank reserves has surpassed that of US Treasury bonds [1] - Gold prices have risen significantly in 2023, increasing from 614 yuan per gram to over 900 yuan per gram, representing a nearly 50% increase [1] - Over the past decade, gold prices have surged approximately 300% [1]