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What does the high proportion of gold in foreign exchange reserves represent?
It represents a country's external creditor's rights and wealth level, as well as the exchange rate stability of its own currency.

For some big countries, they should have higher gold reserves. The higher the ratio of gold price to foreign exchange reserves, the stronger the country's ability will be.

As a part of international reserves, gold reserves are only one aspect of measuring national wealth. Excessive gold reserves will lead to an increase in the holding cost of the central bank.