International News
Gold, ‘Non-traditional reserve currencies’ eat into U.S. dollar’s reserve dominance: Wolf Richter
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.”
International News
GIA, Gübelin Gem Lab Confirm Rare Tourmaline Discovery In Ethiopia
The Testing Revealed hat While The Stones Exhibit The Signature Electric Blues, Bluish-Greens, Violets, and Purples Typical Of Copper-Bearing Elbaite, Their Trace-Element Profile Is Distinct From South American and West African Counterparts.
Two of the world’s foremost gemological authorities have verified the discovery of a significant new source of rare, copper-bearing tourmaline in Ethiopia, adding a major new supplier to one of the luxury jewelry sector’s most valuable gemstone markets.
Independent testing conducted by the Gemological Institute of America (GIA) and Switzerland-based Gübelin Gem Lab confirmed that newly circulating rough material originates from an Ethiopian deposit and qualifies as the coveted “Paraiba” variety. Historically, supply of the vivid, copper-infused gemstone has been restricted to limited deposits in Brazil, Nigeria, and Mozambique.
Reports of Ethiopian material first emerged across global trading networks in early 2026 as unrefined stones began appearing on international markets. Gübelin acquired and tested roughly 300 rough and cut specimens in May, while the GIA analyzed a parcel of more than 100 stones in July to establish origin baselines.
The testing revealed that while the stones exhibit the signature electric blues, bluish-greens, violets, and purples typical of copper-bearing elbaite, their trace-element profile is distinct from South American and West African counterparts.
Many specimens also display pronounced internal color zoning corresponding to subtle variations in chemical concentration during crystallization.
Both laboratories stated they will continue expanding their reference databases and analytical testing as commercial mining operations mature and additional Ethiopian rough enters the global supply chain.
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