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Central Banks Shift to Gold Amid Dollar Concerns

7/5/2025

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Summary

Story summary

Treasury Secretary Scott Bessent reassured the public about the dollar's stability, emphasizing U.S. policies that uphold its reserve currency status. Yet, a UBS survey revealed a growing unease among central banks, with two-thirds fearing the Federal Reserve's independence is threatened, leading many to pivot towards gold and alternative currencies in these uncertain times.

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Story summary

Treasury Secretary Scott Bessent reassured the public about the dollar's stability, emphasizing U.S. policies that uphold its reserve currency status. Yet, a UBS survey revealed a growing unease among central banks, with two-thirds fearing the Federal Reserve's independence is threatened, leading many to pivot towards gold and alternative currencies in these uncertain times.