Global central banks reportedly repatriating gold reserves from the New York Federal Reserve

65FINANCE

Global central banks reportedly repatriating gold reserves from the New York Federal Reserve

⚡ Markets: This trend reflects growing geopolitical fragmentation and a desire by central banks to diversify away from US jurisdiction. It is a long-term structural negative for the USD and positive for gold.GoldUSD

A trend of foreign central banks, including those of the Netherlands and France, withdrawing their physical gold reserves from storage in New York is raising questions about the US dollar's long-term status as the world's primary safe-haven asset.

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Financial pressMarketWatch — Is the U.S. losing its safe-haven status? Why global central banks are pulling gold out of New York.

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