Global Central Banks Ditch Dollar for Gold Amidst Geopolitical Tensions

• Central banks worldwide are rapidly increasing gold reserves, reversing decades of traditional economic thinking.
• The shift is driven by declining trust in the US dollar due to unstable US policies, sanctions, and fears of asset vulnerability.
• Gold prices have reached record levels, surpassing $4,600 per ounce, with analysts predicting further increases.
• The dollar's share in central bank reserves has dropped from 66% to 57% over the last decade.
• Gold has surpassed the euro to become the world's second-largest reserve asset, with many central banks planning further increases and repatriation of gold.

Why It Matters: Central banks are rapidly accumulating gold, viewing it as the safest asset amidst global uncertainty and dollar distrust.