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Gold is NOT displacing the US Dollar
From robinjbrooks.substack.com
The ECB this week put out a report on the “international role of the Euro.” The report is excellent, but it created two misconceptions. The first is that the world’s central banks are crowding into gold given that its share in central bank reserves has surpassed the Dollar. The ECB is careful to note this is all about the crazy run-up in gold prices last year, i.e. it’s all about valuation effects (not a central bank buying frenzy), but that got missed in the reporting. This post sets the record straight on that. The second is that geopolitical uncertainty is behind central bank gold buying. There’s no ... (full story)
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- Jun 4, 7:51am | 27 hr ago Posted byFundamental Analysis23,003
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