#美国贸易赤字状况 Gold surpassing US debt for the first time to become the world's largest reserve asset—what signals does this turning point reveal?

Recent market trends are indeed worth paying attention to. Global central banks are changing their asset allocation strategies, and gold's appeal is rising again. Recently, geopolitical events pushed up gold prices, with a 3.8% increase over two days. Although there was some correction afterward, a deeper trend has already taken shape.

Why is this happening? Essentially, confidence in US debt is wavering among countries. Asset freezing is not just hypothetical; it has actually occurred. In comparison, the value of gold as a hard currency is undeniable—it does not depend on any political system and has historically been the ultimate safe haven.

The data is straightforward: since 2025, gold prices have increased by 66%. To put it in perspective, an initial 100,000 yuan investment in gold at the beginning of the year has now grown to 166,000 yuan. Behind this surge is the process of re-pricing global liquidity.

Interestingly, if gold is re-establishing itself as the king of reserves, what about Bitcoin, often called "digital gold"? Countries like Venezuela are already strategically accumulating crypto assets, which may not be a coincidence.

Short-term fluctuations are normal, but once the direction is set, reshuffling in financial markets usually proceeds decisively. Whether it’s traditional safe havens or new assets, the cycle of reserve reallocation has already begun.