International News

Gold, ‘Non-traditional reserve currencies’ eat into U.S. dollar’s reserve dominance: Wolf Richter

Published

1 year ago

April 3, 2025

Gold and other reserve currencies – but not the euro or renminbi – are steadily eroding the U.S. dollar’s position as the world’s preeminent reserve asset, according to Wolf Richter, analyst and publisher of Wolf Street.

“The status of the US dollar as the dominant global reserve currency has helped the US fund its twin deficits, and thereby has enabled them: the huge fiscal deficit every year and the massive trade deficit every year,” Richter wrote in an article published Monday. “The reserve currency status comes from other central banks (not the Fed) having purchased trillions of USD-denominated assets such as Treasury securities, other government securities, corporate bonds, and even stocks. The dollar status as the dominant reserve currency has been crucial for the US, and as that dominance declines ever so slowly, risks pile up ever so slowly.”

Total holdings of USD-denominated securities by other central banks (not the Fed) fell by $59 billion to $6.63 trillion at the end of 2024, from $6.69 trillion at the end of 2023,” he noted. “And the dollar’s share declined to 57.8% of total allocated exchange reserves at the end of 2024, the lowest since 1994, down by 7.3 percentage points in 10 years, as central banks have been diversifying their holdings for years to assets denominated in currencies other than the dollar, and into gold.”

Related Topics:2025 internationalnews US dollar Wolf Street

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International News

GJEPC Steps Up UK Outreach Ahead Of IIJS Bharat Premiere 2026

GJEPC Visited Major Jewellery Trading Hubs, Meeting 20+ Jewellery Retailers and Wholesalers Through In-Person Interactions

Published

4 hours ago

July 22, 2026

JewelBuzz Spread The Buzz

GJEPC intensified its promotional efforts in the United Kingdom ahead of IIJS Bharat Premiere 2026 through a week-long outreach programme in London that combined direct retailer engagement with the 2nd India-UK Jewellery Buyer-Seller Meet (BSM). The initiative was held from 6 to 10 July 2026 and aimed to attract more UK buyers while strengthening trade ties following the India-UK Free Trade Agreement.

As part of the campaign, Gaurang Vora, Manager, GJEPC, visited major jewellery trading hubs including Green Street, Southall and Wembley, meeting 20+ jewellery retailers and wholesalers through in-person interactions. He promoted IIJS Bharat Premiere 2026, distributed event information and registration details, and gathered market feedback on sourcing requirements and buying trends.

Based on feedback from UK buyers, the 2nd India-UK Jewellery Buyer-Seller Meet generated strong demand for 22-karat gold jewellery, diamond jewellery, lightweight designs, lab-grown diamond jewellery and silver jewellery. Buyers also expressed interest in sourcing from reliable, export-oriented Indian manufacturers and suggested that suppliers offer smaller minimum order quantities to better meet the needs of independent retailers.

The campaign generated new buyer enquiries, strengthened relationships with existing trade partners and provided GJEPC with market intelligence on consumer preferences and sourcing trends. The Council plans to continue engaging with buyers, assist with IIJS Bharat Premiere registrations and facilitate introductions between overseas buyers and Indian manufacturers.