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
73rd Bangkok Gems and Jewelry Fair sets new record with 4.75 Billion Baht in trade value
Over 40,000 visitors from 118 countries propel the fair to its highest trade value since inception.
The Department of International Trade Promotion (DITP), in collaboration with the Gem and Jewelry Institute of Thailand (GIT), announced the successful conclusion of the 73rd Bangkok Gems and Jewelry Fair, held from February 22–26, 2026, at the Queen Sirikit National Convention Center (QSNCC). The event generated total trade value exceeding 4.75 billion baht, the highest since the fair’s inception.
The fair welcomed 40,721 visitors from 118 countries, with international visitors accounting for 61% of total attendance, reaffirming Thailand’s role as a global hub for the gem and jewelry trade. The top five visiting nations included India, Myanmar, China, Japan, and Sri Lanka, whose buyers drove high demand across key categories such as colored stones, silver jewelry, fine jewelry, diamonds, and industry machinery and equipment.
“The success of the 73rd Bangkok Gems & Jewelry Fair reflects the confidence of buyers and industry players worldwide in Thailand’s potential,” said Sunanta Kangvalkulkij, Director-General of DITP. “This event not only set a new record with over 4.75 billion baht in trade value, but it also reinforced Thailand’s vital role as a key global hub for gems and jewelry, even amidst the current challenges of the international economic landscape.”
To accommodate the industry’s growing interest, the 73rd edition expanded its exhibition space to over 53,000 square meters, covering Halls 1–8 and Plenary Halls 1–2. The fair hosted 1,222 companies from 19 countries across 2,794 booths.
The fair was also honored by the presence of Her Royal Highness Princess Sirivannavari Nariratana Rajakanya, who presided over the opening ceremony and viewed the “TREASURE OF DREAMS” exhibition. The showcase featured a high-jewelry collection designed by Her Royal Highness and crafted by master Thai artisans, reflecting her commitment to preserving and advancing traditional Thai craftsmanship while promoting Thailand’s jewelry industry on the international stage.
The 74th Bangkok Gems and Jewelry Fair is scheduled to take place from
September 8–12, 2026, at the Queen Sirikit National Convention Center (QSNCC).
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73rd Bangkok Gems and Jewelry Fair sets new record with 4.75 Billion Baht in trade value
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