Affected by the dollar trust crisis, many countries around the world are accelerating the transfer of their gold reserves from the United States to their own countries, reshaping the global reserve asset landscape. On September 2, the Bank of Holland announced that it would transport approximately 86 tons of gold back to London from North America; France and Germany have also taken similar steps. Since 2013, nearly 6,900 tons of gold have been transferred from U.S. and British vaults to other countries, resulting in the proportion of gold under New York Federal Reserve custody falling to 14%. Although gold prices have been fluctuating between $4,400 and $4,500 per ounce recently, the market generally maintains a bullish outlook, believing that gold’s status as the best asset for hedging sovereign credit risks will become even more prominent.
Many countries around the world are accelerating the transfer of their gold reserves back to their home countries, reshaping their reserve asset landscape. On September 2, the Bank of Holland announced that it would transfer approximately 86 tons of gold from North America to London to enhance its crisis response capabilities; countries such as France and Germany are also promoting a “gold return” trend. Since 2013, nearly 6,900 tons of gold have been transferred back from U.S. and British vaults, with the proportion managed by New York Federal Reserve dropping to 14%. During the same period, gold prices have fallen significantly, currently fluctuating between $4,400 and $4,500 per ounce. However, institutions generally maintain a bullish stance, predicting that prices will return to an upward trend within this year. This trend reflects a widening gap in trust in the U.S. dollar system, and gold’s status as the optimal asset for hedging sovereign credit risks becomes even more prominent.