A Quarter of Global Central Banks Plan To Increase Gold Reserves As They Grow More Pessimistic on US Dollar: Report.
05 Jun 2023, 08:00
A Quarter of Global Central Banks Plan To Increase Gold Reserves As They Grow More Pessimistic on US Dollar: Report
New data shows nearly a quarter of all central banks are looking to hedge against the US dollar by accumulating more gold.
According to a survey by the World Gold Council, a market development organization for the gold industry, central banks around the world are more pessimistic on the dollar than they have been in the past, and consequentially plan to grow their gold reserves.