Gold and ‘nontraditional reserve currencies' eat into U.S. dollar's reserve dominance - Wolf Richter
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The U.S. dollar's dominance as the global reserve currency is gradually eroding, with its share dropping to 57.8% in 2024, the lowest since 1994. Central banks are diversifying their holdings into non-euro currencies and gold, driven by geopolitical and economic considerations. Russia and China have been significant contributors to gold reserve accumulation, adding 3,626 tonnes since 2005.
April 01, 2025 | 8:45 pm
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Central banks' continued gold accumulation, particularly by Russia and China, could support gold prices and benefit gold-focused ETFs like AAAU.
Sustained central bank gold purchases, with 6,221 tonnes added since 2006, indicate strong institutional demand that could drive gold prices higher and benefit gold ETFs.
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