Core Viewpoint - The surge in gold prices, exceeding 1000 yuan per gram, highlights the importance of gold reserves for national financial security, with the U.S., Germany, and China having significantly different gold holdings and implications for their financial stability [1][20]. Group 1: U.S. Gold Reserves - The U.S. holds the largest gold reserves globally at 8133 tons, a position solidified post-World War II under the Bretton Woods system, where the dollar was pegged to gold [3][4]. - The U.S. has accumulated 75% of the world's gold, primarily stored in Fort Knox, which is heavily secured [5][4]. - The increase in gold prices translates to substantial paper gains for the U.S., enhancing the credibility of the dollar and reinforcing its financial dominance [6][24]. Group 2: German Gold Reserves - Germany's gold reserves total 3350 tons, built through post-war manufacturing success, with a significant portion previously stored in the U.S. and France [8][9]. - Concerns over the safety of its gold led Germany to initiate a repatriation plan in 2013, successfully bringing back 743 tons by 2020, thus increasing its domestic gold storage [11][12]. - The rise in gold prices strengthens Germany's position within the EU, providing a financial buffer in times of crisis, while maintaining a long-term holding strategy [26][14]. Group 3: Chinese Gold Reserves - China's gold reserves stand at 2300 tons, ranking sixth globally, which is disproportionate to its status as the second-largest economy [16][20]. - In 2023, China began aggressively increasing its gold holdings, adding 186 tons over the year and 45 tons in the first quarter of 2024, driven by the need to diversify risk away from dollar dependence [18][20]. - The rising gold prices present a challenge for China, necessitating further accumulation to support the internationalization of the yuan and enhance financial security [28][30].