PANews reported on October 18th that according to Jinshi, a recent Deutsche Bank report shows that gold's share of global foreign exchange and gold reserves has increased to 30%, while the US dollar's share has fallen from 43% to 40% over the same period. Deutsche Bank analysts pointed out that for gold to catch up with the US dollar in terms of share, assuming current holdings remain unchanged, the gold price would need to rise to approximately $5,790 per ounce.PANews reported on October 18th that according to Jinshi, a recent Deutsche Bank report shows that gold's share of global foreign exchange and gold reserves has increased to 30%, while the US dollar's share has fallen from 43% to 40% over the same period. Deutsche Bank analysts pointed out that for gold to catch up with the US dollar in terms of share, assuming current holdings remain unchanged, the gold price would need to rise to approximately $5,790 per ounce.
Gold's share of global reserves rises to 30%
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PANews reported on October 18th that according to Jinshi, a recent Deutsche Bank report shows that gold's share of global foreign exchange and gold reserves has increased to 30%, while the US dollar's share has fallen from 43% to 40% over the same period. Deutsche Bank analysts pointed out that for gold to catch up with the US dollar in terms of share, assuming current holdings remain unchanged, the gold price would need to rise to approximately $5,790 per ounce.
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