Central banks favoring gold over the dollar

Central banks are expected to increase their gold reserves over the coming year, as the relative share of the dollar in global reserves declines, with 45% of banks anticipated to boost their gold holdings. This trend comes amid expectations of rising interest rates in the United States and Europe, along with a shift towards diversifying reserves and reducing dependence on the dollar, which still dominates approximately 57% of international monetary reserves. Additionally, countries’ desire to protect their assets from inflation and the growing geopolitical risks are driving them to increase gold holdings, as gold is considered an effective hedge tool and a strategic means of risk management for the long term.

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