2021/0624
中央銀行繼續購買黃金
Central banks to keep buying Gold
中央銀行繼續購買黃金
By Stefan Gleason 6/22/2021 5:11:04 PM GMT
The move away from the Federal Reserve Note as the global reserve currency of choice has continued in recent years, with fresh developments increasing the greenback’s stiff competition.
近年來，美聯儲繼續退出作為全球儲備貨幣的首選貨幣，新的發展加劇了美元的激烈競爭。
This has led to massive central bank buying of gold, and that trend appears set to continue in 2021. According to a recent report from the World Gold Council, 21% of global central banks plan to purchase gold this year.
這導致央行大規模購買黃金，而且這種趨勢似乎將在 2021 年繼續。根據世界黃金協會最近的一份報告，21% 的全球央行計劃今年購買黃金。
Why Do Central Banks Keep Buying?
為什麼中央銀行繼續購買？
There are a variety of reasons for central banks to buy and hold gold.
中央銀行購買和持有黃金有多種原因。
The yellow metal’s reputation as a portfolio diversifier and its role as a safe-haven asset are well known and discussed.
黃金作為投資組合多元化工具的聲譽及其作為避險資產的作用眾所周知並被討論。
But gold’s ability to improve risk-adjusted returns while also serving as an important form of collateral are less talked about topics that may be just as important.
但黃金在提高風險調整後回報的同時作為一種重要的抵押品的能力卻鮮為人知，而這些話題可能同樣重要。
The World Gold Council’s survey also indicated that no central bank has plans to sell its gold reserves this year, having fallen from a 4% reading last year.
世界黃金協會的調查還表明，沒有中央銀行計劃在今年出售其黃金儲備，而去年的數字為 4%。
“This year’s survey continues to highlight significant interest in gold amongst central banks, with the backdrop of the COVID-19 pandemic underscoring the importance of maintaining liquid, uncorrelated assets in a reserve portfolio.
“今年的調查繼續突出中央銀行對黃金的濃厚興趣，在 COVID-19 大流行的背景下，強調了在儲備投資組合中保持流動性、不相關資產的重要性。
“Inflation has also resurfaced as an investment consideration and may inform central bank asset allocation in the coming years. We believe that central banks will continue to be net buyers of gold, albeit at somewhat lower volumes than those of the previous decade.”
“通貨膨脹也重新成為一種投資考慮因素，並可能為未來幾年央行的資產配置提供信息。我們認為，央行將繼續成為黃金的淨買家，儘管數量略低於前十年。”
Gold’s strong performance during the Covid-19 epidemic is likely to become the top reason for central bank buying this year.
黃金在 Covid-19 流行期間的強勁表現很可能成為今年央行購買的首要原因。
Here are key reasons why global monetary planners are accumulating gold:
以下是全球貨幣規劃者增持黃金的主要原因：
1. Gold is a great diversifier. It is uncorrelated to stocks or bonds and can add much needed portfolio diversification to a portfolio while also providing credibility.
1.黃金是一個偉大的多元化。它與股票或債券無關，可以為投資組合增加急需的投資組合多元化，同時還提供可信度。
2.Gold is reliable and trusted. Gold has been a reliable store of wealth and protector of value for centuries – and that reputation is unlikely to change anytime soon. Adding gold can lend credibility to a central bank and its currency.
2.黃金是可靠和值得信賴的。幾個世紀以來，黃金一直是可靠的財富儲存和價值保護者——這種聲譽不太可能很快改變。添加黃金可以為中央銀行及其貨幣提供可信度。
3.Gold is an inflation fighter. With inflation now clearly on the rise, it is more important than ever to own assets that may outperform as prices rise. With the Federal Reserve and other global central banks holding rates at or near zero while printing money each month, the need for an inflationary hedge has never been more pressing.
3. 黃金是通脹鬥士。隨著通脹現在明顯上升，擁有可能隨著價格上漲而跑贏大盤的資產比以往任何時候都更加重要。隨著美聯儲和其他全球央行在每月印鈔的同時將利率維持在或接近於零，對通脹對沖的需求從未像現在這樣緊迫。
4.Gold has zero counterparty risk. The gold market is global, and the metal carries zero counterparty risk. It cannot go bankrupt, default, or otherwise screw its owners. Gold is recognized and valued all over the globe and is always accepted as payment.
4.黃金的交易對手風險為零。黃金市場是全球性的，並且這種金屬的交易對手風險為零。它不會破產、違約或以其他方式欺騙其所有者。黃金在全球範圍內得到認可和重視，並始終被接受作為付款方式。
5.Gold can be used for interventions. Gold is the ultimate currency, and having a gold holding as part of central bank reserves provides central planners a powerful tool to intervene in the markets for whatever purposes.
5.黃金可用於乾預。黃金是最終貨幣，持有黃金作為央行儲備的一部分，為中央計劃者提供了一個強大的工具，可以出於任何目的干預市場。
The key takeaway: If gold is being accumulated by the largest, most powerful financial institutions on Earth, shouldn’t you do so also?
關鍵要點：如果地球上最大、最強大的金融機構正在積累黃金，你不應該也這樣做嗎？
炫麗 Shiny黃金白銀交易所
引用來源: FX Street
中央銀行繼續購買黃金
By Stefan Gleason 6/22/2021 5:11:04 PM GMT
The move away from the Federal Reserve Note as the global reserve currency of choice has continued in recent years, with fresh developments increasing the greenback’s stiff competition.
近年來，美聯儲繼續退出作為全球儲備貨幣的首選貨幣，新的發展加劇了美元的激烈競爭。
This has led to massive central bank buying of gold, and that trend appears set to continue in 2021. According to a recent report from the World Gold Council, 21% of global central banks plan to purchase gold this year.
這導致央行大規模購買黃金，而且這種趨勢似乎將在 2021 年繼續。根據世界黃金協會最近的一份報告，21% 的全球央行計劃今年購買黃金。
Why Do Central Banks Keep Buying?
為什麼中央銀行繼續購買？
There are a variety of reasons for central banks to buy and hold gold.
中央銀行購買和持有黃金有多種原因。
The yellow metal’s reputation as a portfolio diversifier and its role as a safe-haven asset are well known and discussed.
黃金作為投資組合多元化工具的聲譽及其作為避險資產的作用眾所周知並被討論。
But gold’s ability to improve risk-adjusted returns while also serving as an important form of collateral are less talked about topics that may be just as important.
但黃金在提高風險調整後回報的同時作為一種重要的抵押品的能力卻鮮為人知，而這些話題可能同樣重要。
The World Gold Council’s survey also indicated that no central bank has plans to sell its gold reserves this year, having fallen from a 4% reading last year.
世界黃金協會的調查還表明，沒有中央銀行計劃在今年出售其黃金儲備，而去年的數字為 4%。
“This year’s survey continues to highlight significant interest in gold amongst central banks, with the backdrop of the COVID-19 pandemic underscoring the importance of maintaining liquid, uncorrelated assets in a reserve portfolio.
“今年的調查繼續突出中央銀行對黃金的濃厚興趣，在 COVID-19 大流行的背景下，強調了在儲備投資組合中保持流動性、不相關資產的重要性。
“Inflation has also resurfaced as an investment consideration and may inform central bank asset allocation in the coming years. We believe that central banks will continue to be net buyers of gold, albeit at somewhat lower volumes than those of the previous decade.”
“通貨膨脹也重新成為一種投資考慮因素，並可能為未來幾年央行的資產配置提供信息。我們認為，央行將繼續成為黃金的淨買家，儘管數量略低於前十年。”
Gold’s strong performance during the Covid-19 epidemic is likely to become the top reason for central bank buying this year.
黃金在 Covid-19 流行期間的強勁表現很可能成為今年央行購買的首要原因。
Here are key reasons why global monetary planners are accumulating gold:
以下是全球貨幣規劃者增持黃金的主要原因：
1. Gold is a great diversifier. It is uncorrelated to stocks or bonds and can add much needed portfolio diversification to a portfolio while also providing credibility.
1.黃金是一個偉大的多元化。它與股票或債券無關，可以為投資組合增加急需的投資組合多元化，同時還提供可信度。
2.Gold is reliable and trusted. Gold has been a reliable store of wealth and protector of value for centuries – and that reputation is unlikely to change anytime soon. Adding gold can lend credibility to a central bank and its currency.
2.黃金是可靠和值得信賴的。幾個世紀以來，黃金一直是可靠的財富儲存和價值保護者——這種聲譽不太可能很快改變。添加黃金可以為中央銀行及其貨幣提供可信度。
3.Gold is an inflation fighter. With inflation now clearly on the rise, it is more important than ever to own assets that may outperform as prices rise. With the Federal Reserve and other global central banks holding rates at or near zero while printing money each month, the need for an inflationary hedge has never been more pressing.
3. 黃金是通脹鬥士。隨著通脹現在明顯上升，擁有可能隨著價格上漲而跑贏大盤的資產比以往任何時候都更加重要。隨著美聯儲和其他全球央行在每月印鈔的同時將利率維持在或接近於零，對通脹對沖的需求從未像現在這樣緊迫。
4.Gold has zero counterparty risk. The gold market is global, and the metal carries zero counterparty risk. It cannot go bankrupt, default, or otherwise screw its owners. Gold is recognized and valued all over the globe and is always accepted as payment.
4.黃金的交易對手風險為零。黃金市場是全球性的，並且這種金屬的交易對手風險為零。它不會破產、違約或以其他方式欺騙其所有者。黃金在全球範圍內得到認可和重視，並始終被接受作為付款方式。
5.Gold can be used for interventions. Gold is the ultimate currency, and having a gold holding as part of central bank reserves provides central planners a powerful tool to intervene in the markets for whatever purposes.
5.黃金可用於乾預。黃金是最終貨幣，持有黃金作為央行儲備的一部分，為中央計劃者提供了一個強大的工具，可以出於任何目的干預市場。
The key takeaway: If gold is being accumulated by the largest, most powerful financial institutions on Earth, shouldn’t you do so also?
關鍵要點：如果地球上最大、最強大的金融機構正在積累黃金，你不應該也這樣做嗎？
炫麗 Shiny黃金白銀交易所
引用來源: FX Street
