Central banks are leading a revolt against the US dollar and shifting to gold at a record pace, market expert says
Assurance in the dollar's dominance ignores signs that countries are serious about seeking alternatives, according to Ruchir Sharma.: the safe haven commodity has surged 20% in the last half year.
"This buying boom has helped push the price of gold to near-record levels and more than 50% higher than what models based on real interest rates would suggest," said Sharma."Clearly, something new is driving gold prices."
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