据亚历山大·韦伯和马克·伯顿报道，德国央行行长约阿希姆·纳格尔表示，政府债务水平的上升加强了央行增加黄金储备的理由。
Rising government debt levels strengthens the case for central banks to increase their gold holdings, according to Bundesbank President Joachim Nagel.
纳格尔周一在意大利索伦托发表讲话时指出，尽管全球政府债券收益率的上升提升了债务证券的相对吸引力，但债务水平的攀升也加剧了对这些资产信用风险的担忧。此外，地缘政治风险将继续影响储备管理决策。综合来看，央行进一步实现黄金多元化配置的理由依然充分。
“The recent rise in global government bond yields has boosted the relative attractiveness of debt securities again,” he said on Monday. “At the same time, rising debt levels have increased concerns about the credit risk of these assets. Furthermore, geopolitical risks are likely to continue to shape reserve management decisions.”Speaking in Sorrento, Italy, Nagel concluded that “taken together, the case for further diversification into gold remains significant” for central banks.
德国拥有全球第二大黄金储备，但近年来其持仓基本保持稳定，而其他货币政策机构则大幅增加了购买量。
Germany possesses the world’s second-largest gold reserves, but it has kept its holdings broadly steady over recent years while other monetary-policy institutions have boosted purchases dramatically.
乌克兰战争是一个关键催化剂，特别是在华盛顿对俄罗斯实施广泛金融制裁后，一些央行加大了购金力度。
The war in Ukraine was a key catalyst, with some central banks ramping up gold purchases after Washington imposed sweeping financial sanctions on Russia.
近期，对美国债务负担加重的担忧也引发了市场预期，即央行可能会进一步减持美元并增加黄金储备。
More recently, growing worries about the US’s growing debt load has fueled expectations that central banks could diversify away from the dollar and and boost their gold holdings further.
世界黄金协会6月份对74家央行进行的调查显示，45%的受访者计划在未来一年内增持黄金，这是自2018年该调查开始以来的最高比例，仅有一家央行表示计划减持。
In a survey of 74 central banks published by the World Gold Council in June, 45% said they plan to buy in the coming year, the biggest-ever share since the survey began in 2018. Just one said it planned to cut holdings.