Since ancient times, gold has been a scarce and non-renewable resource that has always been sought after by people.
It not only symbolizes wealth and power but also serves as an important indicator of a country's economic strength.
With the changing global economic landscape, countries have begun to hoard gold on a large scale.
By the end of 2023, Russia's gold reserves exceeded 2,000 tons, while the United States reached as high as 8,000 tons, creating a significant gap.
What about China's gold reserves during the same period?
Russia is known for its image as a "fighting nation," but in the past, its attitude towards gold reserves was relatively indifferent, with a minimum of only a few hundred tons.
In recent years, due to economic sanctions from Western countries, Russia has realized the importance of gold reserves.
In a turbulent economic environment, the value of gold remains relatively stable, allowing Russia to increase its gold reserves to 2,350 tons after years of accumulation, thereby enhancing the country's economic independence.
Although some European countries have restricted Russia's gold exports, this has not had a significant impact on international gold prices.
Regardless of the economic environment, gold is still regarded as a symbol of solid wealth.
As of mid-2023, the United States had gold reserves of 8,133 tons, which is considerable, but it also carries various uncertainties.
The U.S. dollar, as the world's major currency, has a close relationship with gold, historically maintaining its status through a gold exchange system.
In the face of economic crises, gold reserves have become an important means for the U.S. to mitigate risks.
Although gold prices fluctuate little, the changes are more pronounced based on the large reserves, and it remains uncertain whether the U.S. can maintain this advantage in the future.
In August 2024, the People's Bank of China suspended its plan to increase gold holdings, reflecting its consideration for economic stability.
According to data from May 2023, China's gold reserves were approximately 2,092 tons, ranking sixth in the world, clearly showing a gap compared to developed countries.
However, the private gold reserves in China are quite substantial.
A few years ago, when global gold prices fell, the Chinese public purchased gold on a large scale, leading to a supply shortage in the market.
In fact, China's private gold reserves are estimated to be between 120,000 to 160,000 tons, several times that of the national reserves, indicating the purchasing power and penetration of gold among the populace.
In today's turbulent global economic situation, gold, as a stable asset, is receiving attention from various countries.
However, we should recognize that gold is only a symbol of national economy and cannot be solely relied upon for reserves.
Future economic development needs to be approached from multiple perspectives to achieve the long-term goals of the country.
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