Recently, a thought-provoking phenomenon has emerged in the financial markets: investors are increasingly viewing gold as a safer haven than the US dollar. This trend has drawn significant attention from Kenneth Griffin, the founder of Citadel hedge fund, who expressed his concerns in a media interview.

Griffin pointed out that the current market is experiencing significant asset price inflation, which is closely related to the trend of de-dollarization. Investors are actively seeking ways to substantially reduce their portfolios' reliance on the dollar or to hedge against U.S. sovereign risk. This phenomenon reflects that investors' confidence in the long-term stability of the dollar is wavering.

The political deadlock in the United States has exacerbated this trend. The disagreements between the Republican and Democratic parties over budget issues have led to a shutdown of the federal government, further increasing uncertainty in the market. Meanwhile, the market widely expects the Federal Reserve to lower interest rates further, and these factors have collectively driven gold prices to reach an all-time high on October 6.

It is worth noting that the "currency devaluation trading" strategy has become increasingly popular this year. This strategy refers to investors turning to assets such as gold, silver, and Bitcoin, which are considered to have a value-preserving function, in anticipation of fiat currency devaluation. The simultaneous rise in gold prices and Bitcoin prices is seen by many analysts as a concrete manifestation of this strategy in practice.

Griffin further stated that the current fiscal and monetary policies in the United States are similar to the stimulus measures during periods of economic recession. This policy direction may exacerbate market overheating, and the potential risks cannot be ignored.

Overall, the trend of de-dollarization is reshaping the global financial landscape. The preference of investors for traditional safe-haven assets, along with doubts about the dollar's dominance, may signal that the international financial system is facing significant changes. During this period of uncertainty, market participants need to remain vigilant and closely monitor the developments in the global economic and political situation.