Gold prices continued to rise this week, with the key to this round of gains being the renewed market concerns over the weakening purchasing power of the US dollar. Against the backdrop of Trump pushing for additional tariffs on Europe, the US dollar came under pressure, and discussions about overseas central banks potentially reducing their holdings of US Treasuries and shifting more foreign exchange reserves into gold have noticeably increased.

The relative strength of gold is closely related to demand from official sectors. Central banks around the world continue to increase their gold holdings, especially the Chinese central bank, whose pace of accumulation has attracted more market attention, providing sustained buying support for gold prices.

In contrast, Bitcoin is still rarely included in central bank reserve diversification frameworks at the public disclosure level. For policymakers, gold remains a more mainstream asset that aligns better with existing reserve management systems, whereas Bitcoin has not yet been widely accepted within official foreign exchange reserve frameworks. $BTC