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Global Shift in Gold Reserves Amid Dedollarization
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Western media once claimed gold was losing its safe haven status. Now, gold prices hit new highs. Central banks worldwide are stockpiling gold, doubling purchases in 2024. The World Gold Council reports global reserves rose by 228 tons in Q1 2024.
Dedollarization is driving this trend. Central banks hold fewer dollar-denominated assets, down from 70% to 58.9% over two decades. The BRICS nations plan a new payment unit, 40% gold-backed, challenging the dollar's dominance.
Russia's gold reserves surged to a record 2335.85 tons in Q2 2024. The shift reflects a broader move away from the dollar, emphasizing gold's enduring value.
| Scores | Value | Explanation |
|---|---|---|
| Objectivity | 6 | Comprehensive reporting and in-depth analysis. |
| Social Impact | 5 | Significantly influencing public opinion. |
| Credibility | 5 | Solid evidence from authoritative sources. |
| Potential | 6 | Almost inevitably leading to significant changes. |
| Practicality | 4 | Directly applicable to real problems. |
| Entertainment Value | 2 | Includes a few entertaining elements. |