#贵金属黄金与白银刷新历史高位 What have central banks been doing over the past two years? Stockpiling gold. From 2023 to 2025, global central banks are expected to buy over 1,000 tons of gold annually — a figure that’s quite staggering. The Bank of Poland alone purchased 150 tons, accounting for 15% of the annual average, which is indeed a bold move.

The small rise in gold prices at the end of October? Don’t underestimate it; it clearly indicates one thing: short-term fluctuations cannot change the long-term upward trend. There are four main reasons supporting gold, each solid — intensified great power competition, a backlash against globalization, mounting fiscal deficits in various countries, fiat currency devaluation, and the erosion of dollar dominance. When these factors stack up, the trend won’t turn around easily.

Most importantly, central banks are still buying consistently, which is the real stabilizer. $BTC How the market will move is another story, but in the long run, the gold held by central banks is bullish.