As 2024 concludes, the U.S. dollar remains a dominant force in the global foreign exchange market, accounting for 58.2% of global reserves. Despite a slight decline from its peak, the dollar's share is significantly higher than the lows experienced in the early 1990s. In recent trading, the dollar has shown strength against several currencies, with the Norwegian krone (NOK) depreciating by 0.453% against the dollar, while the Mexican peso (MXN) gained 0.185%. In the commodities market, gold has performed well, delivering nearly 27% returns for the year, driven by strong demand amid geopolitical tensions and inflation concerns. Analysts predict that gold will continue its upward trajectory into 2025, with its share in global reserves surpassing that of the euro for the first time, now accounting for 17.6% of total worldwide reserves. The market is observing a holiday lull, but expectations remain high for gold's performance in the coming year.
💵US DOLLAR'S SHARE IN GLOBAL RESERVES TUMBLES TO THREE-DECADE LOW The US dollar’s share of global currency reserves hit a three-decade low at the end of the third quarter. Check out Sputnik analysis of International Monetary Fund (IMF) data (1/6) 👇 https://t.co/WBc4ZLx7aK
ফের চড়বে সোনার দাম? #goldprice #budget https://t.co/xYbYvtX3CV
Gold was steady in quiet, post-holiday trading, after mixed jobless claims data in the US did little to alter bets on the outlook for Federal Reserve interest rate cuts https://t.co/7qeSYjm0zd