system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: Why do countries need a gold reserve? For instance, america seems to have 8k tons of gold. When would they ever need to use it? Also, do they gradually buy and sell it?
gpt
They no longer need gold reserves. Countries having them was a hold over from when countries used the gold Standard to back their currency. No country currently uses the gold standard so all gold reserves are just a point of investment now.