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Survey finds central banks want gold, euro, and yuan as dollar dominance wanes
By Yoruk Bahceli and Dhara Ranasinghe
Reuters
Tuesday, June 24, 2025
LONDON -- The custodians of trillions of dollars of global central bank reserves are eyeing a move away from the greenback into gold, the euro and China's yuan as the splintering of world trade and geopolitical upheaval spark a rethink of financial flows.
According to a report by the Official Monetary and Financial Institutions Forum (OMFIF) due to be published today, one in three central banks managing a combined $5 trillion plan to increase exposure to gold over the next one-to-two years after stripping out those planning to decrease, the highest in at least five years.
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The survey of 75 central banks -- carried out between March and May -- gives a first snapshot of the repercussions of U.S. President Donald Trump's April 2 "Liberation Day" tariffs that sparked market turmoil and a slide in the safe-haven dollar and U.S. Treasuries.
Gold, which central banks have already been adding at a record pace, was seen benefiting even further longer term, with a net 40% of central banks planning to increase gold holdings over the next decade.
"After years of record-high central bank gold purchases, reserve managers are doubling down on the precious metal," OMFIF said. ...
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