Gold Gains Ground in Global Reserves Amid Dollar Weakness

Gold is making a comeback as a reserve asset, with its share of global foreign exchange and gold reserves rising to 30%, according to a recent report from Deutsche Bank. This shift comes at the expense of the dollar, which saw its share drop from 43% to 40%. Analysts suggest that for gold to reach parity with the dollar in terms of reserve holdings, its price would need to increase by roughly $5,790 per ounce, assuming current reserves remain unchanged.