On January 24, 2025, international gold prices rose by over 64% year-to-date, marking the largest annual increase since 1979. At this year's World Economic Forum, central bank gold purchases, de-dollarization, and the independence of the Federal Reserve naturally became core topics in several sub-forums. As Bridgewater Associates founder Ray Dalio stated, compared to dollar assets such as US Treasury bonds, gold is becoming a more valued reserve asset for global central banks, and the central bank gold-buying spree is reshaping the demand structure of the global gold market.
Data from the International Monetary Fund (IMF) shows that the US dollar's share of global foreign exchange reserves has fallen below 60%, hitting a multi-decade low. A survey by the World Gold Council indicates that as many as 95% of central banks expect to continue buying gold in the future. This is interpreted by the market as using physical assets with "no sovereign credit risk" to hedge against deep-seated anxieties about the dollar's credibility. (CCTV Finance)
