Last year, central banks worldwide added a net 1,037 tons of gold to their reserves, just shy of the record 1,082 tons added the previous year. The latest World Gold Council Central Bank Gold Survey indicates that this appetite for gold is not diminishing, with 29% of central banks planning to increase their gold reserves in the next 12 months—the highest level of interest since the survey began in 2018.
According to Alasdair Macleod, central banks worldwide are increasingly aware of the declining purchasing power of fiat currencies, especially the US dollar, which has long been the dominant global currency. This awareness prompts central banks to seek safer alternatives, and gold has emerged as the preferred option. The shift towards gold could have serious implications for US debt, as diminished confidence in the dollar might lead to a decrease in foreign investment.
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Credit: Soar Financially
GOLD: Explosive Growth Amid Dollar Implosion | Alasdair Macleod
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