There will come a time when maybe 150 countries, around the...

There will come a time when maybe 150 countries, around the world, will not touch the US dollar with a 'barge pole'.

I suspect it will then be astonishing to see how fast gold goes past the US dollar, as a store of international reserves.

'Gold bullion has surpassed the euro to become central banks’ second most plentiful reserve asset in terms of value, according to a new report from the European Central Bank (ECB).

The euro made up 16 percent of banks’ reserves while gold accounted for20 percent, the FT said. The dollar remains the chief reserve asset at 46 percent.

The banks of China, India, Poland, and Turkey led the list of buyers.

“Central banks continued to accumulate gold at a record pace” in 2024, the report said. For a third consecutive year, central banks have grabbed more than 1,000 metric tons of gold, 20 percent of the world’s production and twice the yearly average in the previous decade.'