As a kind ofand financial products, which fluctuate with real interest rates andU.S. dollar indexClosely related. U.S. dollar indexis a measure of the US dollar against other major onesCurrencyIndicators of weighted results,U.S. dollar indexThe higher it is, the higher it represents the appreciation of the US dollar and the convertibilityCurrencyThe more. Recently, due to the three consecutive pauses of the US dollarHike rateand is expected to cut interest rates next year, leading toU.S. dollar indexDramatically **, which in turn triggeredskyrocketed. To put it simply, due to the depreciation of the dollar, people can only buy 15 grams for 1000 dollars, compared to the previous 20 grams, caused**。Therefore, it can be seenwithU.S. dollar indexThere was a negative correlation overall.
In addition,As a commodity, it is also affected by market supply and demand. Due toThe production areas are scattered, and the supply has been relatively stable, soIt is mainly affected by the demand side. This yearGlobal central banksPurchaseA record 800 tonnes was reached, the highest ever recorded. Global central banksLarge-scale purchasesThe reason for this is that people's confidence in the dollar is gradually decreasing, and it willConsidered a safe-haven asset. The Russia-Ukraine conflict in recent years and the freezing of the assets of the Russian central bank in the United States have taken a toll on people's confidence in the dollar and they have begun to redirect funds。Therefore,In case of short supply, makeMore bullish.
In addition to buying in a big spreeOutside,Global central banksAnd still going on**U.S. Treasuries。The latest data shows nine countries and territories in October**U.S. Treasuries, accounting for up to 45%. China was the second largest overseas creditor of the United States for the seventh consecutive month**U.S. Treasuries, which has sold nearly 100 billion dollars compared to the end of last year. This means:Global central banksSell-offU.S. Treasuries, purchaseThe move is more about concerns about the US fiscal situation. Due toU.S. TreasuriesAs the scale increases, so does the risk of dollar assets, so people are turning to exchange dollars for safer。worldThe association expects to continue hoarding next yearwill beGlobal central bankstrends.
In addition,Federal ReserveIt's about to enter a cycle of rate cuts, and it's probably rightU.S. dollar exchange rateCausing pressure, causing the US dollar to move further lower. For modern timesCurrencyto say,CreditIt is the foundation of the body, however, because ofUnited States**A series of questions about the dollarCreditConstantly declining. In addition, in recent years, the United States has continued to use the dollar as a "** people's confidence in the dollar has become more and more shaken." Therefore, ** dollars, purchasedIt has become the trend of the times.
Although it is not certain whether the dollar will collapse in 2024, if the current trend continues, then sooner or later the dollar will face an existential crisis. Federal ReserveStart the cycle of interest rate cuts,Global central banksSell-offU.S. Treasuriesand purchasesThe trend is here to stay, intensifying doubts about the dollar. withU.S. TreasuriesThe scale continues to expand, the deterioration of the fiscal position of the United States, coupled with the escalation of geopolitical conflicts, people's demand for safe-haven assets will continue to increase, whilebecomes the best choice. Due toIt is widely recognized as a recognized safe-haven assetGlobal central banksGo ahead and buywill become a trend.
Gold priceThe sharp rise is a signal of crisis, and the dollar may be in danger next year. The peg to the US dollar is due tofinancial properties, which are subject to real interest rates andU.S. dollar indeximpact. As a commodity, it will also be affected by market supply and demandGlobal central banksPurchaseA record was set. And at the same time,Global central banksSelling offU.S. Treasuries, purchase, indicating a gradual decrease in confidence in the dollar. Next year, the dollar may face an existential crisis, but it is uncertain whether it will collapse. However, withFederal ReserveStart the cycle of interest rate cuts andGlobal central banksGo ahead and buytrend, doubts about the dollar may further intensify, leading todemand continues to rise.