According to a report by the Official Monetary and Financial Institutions Forum ('OMFIF'), 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.
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.
The dollar, the most popular currency in last year’s survey, fell to seventh place this year, OMFIF said, with 70% of those surveyed saying the US political environment was discouraging them from investing in the dollar — more than twice the share a year ago.
In currencies, the euro and yuan stand to benefit the most from a diversification away from the dollar.
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
EVN Price at posting:
$7.68 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)