Oddbean

More rich countries worried about the dollar want to buy gold ========== Central banks from advanced economies, including China and its allies, are planning to buy more gold to hedge risks such as inflation and economic shocks. A World Gold Council survey found that 29% of 70 central banks are planning to buy gold over the next 12 months, with 15% of those in advanced economies and 40% of emerging market central banks planning to do so. The central banks' key reasons for gold purchases include rebalancing reserves and hedging against risks such as rising inflation, US dollar exposure, and market instability. Additionally, 56% of central banks from advanced economies expect the dollar's share of global reserves to fall over the next five years. The decline in the US dollar's share of global reserves is referred to as 'stealth erosion' by the International Monetary Fund. #Gold #CentralBanks #UsDollar #Reserves #Inflation #EconomicShocks https://www.businessinsider.com/dedollarization-rich-countries-advanced-economies-buy-gold-dollar-share-reserves-2024-6