CICC's Chief Analyst for Overseas and Hong Kong Stock Strategy, Liu Gang: The ultimate value of gold comes from its "partial substitution" for the credit of the US dollar

On December 20th, at the "Alpha Summit" co-hosted by Wall Street Insights and the China Europe International Business School, Liu Gang, Chief Analyst of CICC's Overseas and Hong Kong Stock Strategy, stated that the long-term value of gold has always existed, but the realization time for price predictions based on grand narratives is unknown. The "ultimate" value of gold comes from its "partial substitution" for the dollar's credit due to bifurcation. If the gold price rises above $5,500 per ounce, it may exceed the nominal scale of existing U.S. Treasury bonds