Yahoo!Finance-Reuters/Naomi Rovnick and Libby George/5-25-2023
“Rivalry with China, fallout from Russia’s war in Ukraine and wrangling once again in Washington over the U.S. debt ceiling have put the dollar’s status as the world’s dominant currency under fresh scrutiny.”
USAGOLD note: Though the dollar is likely to remain the currency of choice in international transactions, its status as a reserve holding is in decline. Gold could be among the long-term beneficiaries if the trend continues. In fact, central bank gold demand set a record in 2022 and continues at a record pace in 2023. Reuters says “mushrooming alternatives could create a multipolar world.”
