Gold Replacing Dollar as World’s Reserve Currency?

Dees Illustration

CNBC

$105 per barrel oil. Cotton prices at record levels. Food prices at 2008 highs. Typically, such commodity price increases would send central banks running to the U.S. Dollar to secure the value of their savings. After all, the dollar has been the reserve currency since World War I.

But not this time.

Central banks are shedding dollars [DXC1  76.325    -0.16  (-0.21%) reducing their holdings by about $9 billion in previous quarter, according to Nomura Securities’ Jens Nordvig, global head of G10 FX Strategy.

What are they buying instead? Gold [GCCV1  1422.30    -3.90  (-0.27%) 

Read Full Article

var linkwithin_site_id = 557381;

linkwithin_text=’Related Articles:’


Activist Post Daily Newsletter

Subscription is FREE and CONFIDENTIAL
Free Report: How To Survive The Job Automation Apocalypse with subscription

Be the first to comment on "Gold Replacing Dollar as World’s Reserve Currency?"

Leave a comment