Gold still has a high demand among central banks. According to a survey published a few days ago by the Forum of Official Monetary and Financial Institutions (OMFIF), one third of the 75 central banks surveyed plans to buy gold in the next 1-2 years, says Commerzbank raw material analyst Carsten Fritsch.
The USD loses global favor
“In the next ten years, 40% of the central banks intend to do so. The US dollar, on the other hand, is losing its attractive They benefit from this. “
“However, the US dollar is expected to remain the main reserve currency in ten years, with an average expected participation of 52%. It is expected that the participation of the euro will be 22%. A few weeks ago, a study of the ECB revealed that the euro had fallen behind the gold to third place between the most important reserve currencies last year.”
“A recent survey of the World Gold Council also showed that central banks intend to buy more gold in the next 12 months. Therefore, gold purchases by central banks remain an important support factor for the price of gold.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
