WHY ARE CENTRAL BANKS DITCHING THE U.S DOLLAR FOR GOLD?

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Jun 06, 2023, 05:00 ET

Demand Reached a Record High Last Year. What about 2023?

AUSTIN, Texas, June 6, 2023 /PRNewswire/ -- Central banks across the world have been purchasing gold at record -high volumes, according to data sourced by the World Gold Council. Many of these banks have traditionally held large amounts of U.S. dollars in their reserves.

Countries such as India, Turkey, and Russia have begun to grow leery of the dollar and the U.S. government's influence over it and are now looking at gold as a safe- haven asset. Could the same independence from sanctions that gives gold an appeal to banks also give gold an appeal to consumers who want financial independence?

WHY ARE CENTRAL BANKS DITCHING THE U.S DOLLAR FOR GOLD?

In the latest episode of U.S. Money Reserve's "In Conversation," a group of experts, including former U.S. Mint Directors, analyze the great central bank gold rush that is still happening today. They examine why gold has become a hot commodity for central banks, for reasons ranging from stability to independence to diversification.

Watch the latest video to learn more.

Philip N. Diehl, 35th Director of the U.S. Mint (1994–2000) and President of U.S. Money Reserve, and Edmund Moy, 38th Director of the U.S. Mint (2006–2011) and U.S. Money Reserve's Senior IRA Strategist, are joined by Angela Roberts, U.S. Money Reserve CEO; Brad Chastain, U.S. Money Reserve's Director of Education; and host Chuck Woolery. The panel breaks down what has caused the central banks' gold rushes and why it might continue for years to come.

For more information or to speak with company leadership at U.S. Money Reserve, please contact Christol Farris at 512-568-9991 or [email protected] or visit www.usmoneyreserve.com.

About U.S. Money Reserve

U.S. Money Reserve is one of the nation's largest private distributors of U.S. government–issued gold, silver, platinum, and palladium products.

Founded in 2001, U.S. Money Reserve has grown into one of the world's largest private distributors of U.S. and foreign government–issued gold, silver, platinum, and palladium legal-tender products, as well as precious metals IRAs. Hundreds of thousands of clients across the country rely on U.S. Money Reserve to diversify their assets with physical precious metals.

U.S. Money Reserve's uniquely trained team includes coin research and numismatic professionals equipped with expert market knowledge to find products that offer the highest profit potential for precious metals buyers at every level. U.S. Money Reserve goes above the industry standard to provide superior customer service, with the goal of establishing a long-term relationship with each and every one of its customers. U.S. Money Reserve is based in Austin, Texas.

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SOURCE U.S. Money Reserve