Global Central Banks Favor Gold Over Dollar, Expecting Increased Reserves

24.06.18 News

Central banks worldwide are expected to increase their gold reserves this year amid growing pessimism about the US dollar, according to a World Gold Council report. Over 80% of surveyed reserve managers anticipate higher global gold holdings, with nearly 30% planning to add to their reserves. The shift is driven by economic and political uncertainties and the desire to mitigate risks. The US dollar’s decline in favor is due to concerns over its use in geopolitical conflicts and domestic issues.

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