Recent financial analyses indicate that from 2023 to 2025, central banks around the world will maintain a high level of gold purchases, with an average annual accumulation of 1,000 tons. The Polish central bank has just completed a purchase of 150 tons of gold, accounting for 15% of the global central bank annual gold hoarding scale, demonstrating the importance countries attach to gold reserves.

In late October, gold prices reached a recent high. Although there was a short-term technical correction, the long-term support logic remains solid. Factors driving continued demand for gold include: intensified geopolitical competition among major powers amid de-globalization, expanding fiscal deficits in multiple countries, investors' hedging needs against fiat currency devaluation, and the accelerating trend of de-dollarization worldwide.

From the persistent large-scale purchases by central banks, the world's strongest buying power remains undiminished. This reflects a firm recognition of the value of traditional reserve assets and also hints at countries' concerns about the stability of the current international financial system.