Central banks eye gold, euro and yuan as dollar dominance wanes!
The custodians of trillions of dollars of global central bank reserves are eyeing a move away from the greenback.
With gold, the euro and China's yuan all in favour.
It comes as the splintering of world trade and geopolitical upheaval has sparked a rethink of financial flows.
A report by the Official Monetary and Financial Institutions Forum is due to be published later on Tuesday (June 24).
It says one in three central banks managing a combined $5 trillion plan to increase exposure to gold over the next two years.
The survey of 75 central banks was carried out between March and May.
And gives a first snapshot of the repercussions of Donald Trump's tariffs.
Gold, which central banks have already been adding at a record pace, is expected to benefit further.
With around 40% of central banks planning to increase gold holdings over the next decade.
The US dollar, the most popular currency in last year's survey, fell to seventh place this year.
70% of those surveyed said the U.S. political environment was discouraging them.
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Long term this is a nothing burger.
EU (the world actually) has agreed to let in more US goods, which will require settling in USD.
Euro will crash due to EU having to increase deficit spending/ contribute more to NATO / its own Defense & exploding Social Services- because of bad policies re excessive Commie, Green, Globalist & Open Border initiatives hurting all sectors: Pharma, energy, farming, economy in general.
Buying Gold at all-time high & increasing price / scarcity + its attendant physical costs- with a declining currency & record budget deficits...good luck with that. If you see significant moves in this area it will likely be thru disastrous measures such as cook the books fakery, print more currency.
The rest of the world falls into one of the following three camps: worse off than EU, allied with US, too small to make a significant dent in the Universe.