Gold priced in Swiss Francs is experiencing a significant breakout, reflecting broader trends in global currency reserves and the weakening of the US dollar. Since the collapse of the Dollar-Gold peg in 1971, the Swiss Franc has shown strength against the US dollar. Recent data as of Sep. 25, 2024, indicates a decline in the US dollar's share of world official international reserves, dropping from 71.1% in 2000Q4 to 58.2% in 2024Q2. The US dollar portion of official international reserves, including gold, forex, and SDR, has fallen below 50% and is expected to continue declining. The US Dollar Index (DXY) and LBMA PM Fix data further underscore this trend. This trend highlights the shifting dynamics in global finance and the growing importance of other currencies and assets, such as gold.
US dollar portion of official international reserves (#Gold, Forex, SDR) continues to drop, now under 50%. I expect the US dollar portion to continue to drop to about 30%, close to US percentage of World GDP. https://t.co/dChlz5UAAx
Gold Priced In Swiss Francs Is Finally Breaking Out https://t.co/Ccwv9sqS1M
Currency composition of world official international reserves (#Gold, Forex, SDR) (US dollar - 2000Q4 vs 2024Q2) https://t.co/QKmfXzLB5h