In the first nine months of the year,Global central banksofPurchases are at an all-time high. The data shows that as of September this year,Global central banksOfficialReservesThe total reached 35,698 tons, compared to the first three quarters of the yearGlobal central banksRightThe demand has increased to 800 tons, becoming the worldAssociationsHighest ever net purchases. At the same time, the worldAssociationspointed out,Global central banksIt is clear that 2023 will usher in oneIn the year of purchases, purchases are expected to exceed expectations, 31% and 20% higher than the annual averages for the last five and 10 years, respectively. It is foreseeable that the central banks of emerging markets and European countries will be the biggest market makers in this trend, especially in the first 10 months of the year in ChinaReservesWith an increase of 204 tons, it regained its position as the world's largest buyer. In addition, 24 central banks in the east and north of Europe also bought the largest amount since the 1967 sterling crisisPhysical Goods**, showing that the world is gradually moving towards a new realityThe gold standard
ChinaThe market is sending signals that it continues to expand its trading volume, which is not expected. According to the worldAssociationscitedCustomsThe data shows that China imported in September this year124 tons, basically the same as in August, and imported in the third quarter of this yearThe total was 354 tons. In the longer term, China imported 1,145 tonnes in the first nine months of the year, an increase of 27% compared to the same period last year. This indicates ChinaDemand continues to increase, and since 2017, China has imported from Europe and the United StatesThe total has reached 6,839 tons. Analysts believe that affected by the globalEconomic growthSlowdown and uncertainty affect countries to buyIt's not just about investing, it's about valuingeconomic strategic value. It has always played an important role as an anchor of trustGlobal central banksThere is a clear understanding of its value.
In recent years, central banks in Germany, France, Hungary, Turkey, the Netherlands, Belgium, Venezuela, Austria, Switzerland and other countries have announced or begun to deposit their positions in the Federal Reserve orBank of EnglandofShipped back to your home country. In particular, the 24 central banks located in the east and north of Europe have bought the largest amounts in recent timesPhysical Goods**。The IMI International Commission's report notes that the world is gradually moving towards a new de factoThe gold standardcountries, including the United States, EU countries, Russia, China, Turkey and India, are all being reassessedstrategic value and transaction settlement channels. Among them, the Dutch central bank even hinted at it in its article on November 28can be the basis of the global monetary system against the risk of a sudden collapse of the dollar.
In addition to overweightGlobal central banksStill net sellingU.S. Treasuries, duration and ** record set sinceThe U.S. financial crisisThe highest level since. This reflects some countries' concerns about the US dollar and concerns about market uncertainty. Adopted by the central bank**U.S. Treasuriesand increase holdingscan increase its ownReservesand provide a hedging tool to deal with market volatility and exchange rate risk. The move is also a signal to the US economy, fiscal policy, and the hegemony of the US dollarGlobal central banksIts foreign exchange reserves are being reconfigured.
In summary,Global central banksincreased volume of purchases, as well as China and European countriesDemand continues to increase, showing a global pairstrategic attention and concerns about economic uncertainty. As a safe haven asset and a global trust anchor, it is becoming one of the preferred assets of central banks and a key asset for the global economy andfinancial systemThe future direction brings new signals.