Rising sovereign debt reshapes investment logic, Invesco: Gold evolves from a tactical tool to a long-term strategic allocation

(1) As global government debt levels continue to climb, the capital markets are undergoing a profound structural transformation, and the role of gold in these changing circumstances is undergoing a fundamental shift. (2) Christopher Hamilton, Head of Client Solutions for Asia-Pacific at Invesco, pointed out that investors are gradually abandoning the traditional view of gold as a short-term tactical trading tool, and instead are elevating it to the level of a long-term strategic asset allocation. (3) Behind this transformation lies not only concerns about inflation and interest rates, but also a reshaping of confidence in the global monetary system, marking gold's entry into a new era of value.