💡 XAUUSD: Expected to reach a shocking peak in the near future
Updated
Central bank gold purchases have “surged to record levels” in recent years, as regulators seek to diversify reserves and reduce credit risk.
China and Russia are leading gold purchases, while India, Türkiye and Brazil are also increasing bullion imports in large quantities.
Citi Bank experts said: “The most likely path to $3,000/ounce of gold is the rapid acceleration of an existing but slowly developing trend - de-dollarization of banks. central banks in emerging markets, thereby leading to a crisis of confidence in the US dollar.
China and Russia are leading gold purchases, while India, Türkiye and Brazil are also increasing bullion imports in large quantities.
Citi Bank experts said: “The most likely path to $3,000/ounce of gold is the rapid acceleration of an existing but slowly developing trend - de-dollarization of banks. central banks in emerging markets, thereby leading to a crisis of confidence in the US dollar.
Note
HAPPY WEEKEND !!!Note
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.