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A Majority of Global Central Banks Now Expect Gold to Grow as a Reserve Asset While Views on the U.S. Dollar Turn Dimmer

June 01, 2023

Most central banks now expect gold to make up a greater share of reserves, World Gold Council found.

by Filip De Mott Yahoo! Finance

A clear majority of central banks around the world now see gold becoming a more prominent reserve asset, suggesting the de-dollarization trend will continue in the coming years.

According to a World Gold Council survey, 62% of banks expect gold to account for a greater share of total reserves over the next five years, compared with last year’s reading of 46%.

Meanwhile, the survey found that half of respondents expect the dollar to account for 40%-50% of reserves in five years.

That would mark a drop from the third quarter, when the dollar made up 51% of reserves, with gold making up 15% of reserves.