Spot gold has risen nearly 14% cumulatively over the past $XAU 8 months, at one point touching an all-time high of $4,630/oz. Keep in mind this was during a period when the probability of rate hikes was rising; gold was still pushing higher, which shows that the market’s pricing logic has shifted from interest-rate differentials to credit hedging. The 4600 figure reflects the collective anxiety over the global $40 trillion U.S. Treasury market. But A Jian does not recommend FOMO when a new record high is broken, because if today’s Jackson Hole meeting releases an unexpectedly hawkish signal, gold could see a sharp deleveraging pullback in the short term
In addition, during my research I found an interesting set of data: in Q2 2026, global central banks’ net gold purchases reached 289 tons, a significant year-over-year increase of 62%, with Poland, China, and Kazakhstan as the main buyers. Central banks are not short-term traders; their gold-buying behavior is a long-term structural move toward de-dollarizing reserve assets
This is the information gap: central banks are buying insurance for the monetary reconstruction of the next decade, and we should view central-bank gold purchases as a pressure gauge for global macro uncertainty. If you do not want to fuss over it, you can simply follow the big money. Diversification of reserve assets is a certain trend, and in personal allocations the gold share should not be less than 5%-10%#黄金8月上涨约14%
In addition, during my research I found an interesting set of data: in Q2 2026, global central banks’ net gold purchases reached 289 tons, a significant year-over-year increase of 62%, with Poland, China, and Kazakhstan as the main buyers. Central banks are not short-term traders; their gold-buying behavior is a long-term structural move toward de-dollarizing reserve assets
This is the information gap: central banks are buying insurance for the monetary reconstruction of the next decade, and we should view central-bank gold purchases as a pressure gauge for global macro uncertainty. If you do not want to fuss over it, you can simply follow the big money. Diversification of reserve assets is a certain trend, and in personal allocations the gold share should not be less than 5%-10%#黄金8月上涨约14%