EBC Daily Snapshot Sep 4, 2024

Safe-haven currencies surged Wednesday as Wall Street and Asian stocks fell sharply, leading to losses in commodity currencies.

EBC Financial Group
Typ: STP, ECN
Regulace: FCA (UK), ASIC (Australia), CIMA (Cayman Islands), FSCA (South Africa)
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Gold Overtakes US Treasuries on Central Bank Balance Sheets

Gold Overtakes US Treasuries on Central Bank Balance Sheets

Finally, gold has surpassed the US Treasuries as the largest reserve asset held by the world's central banks. Years of record bullion purchases, combined with a powerful rise in gold prices, have reshaped the landscape. Whilst the USD remains dominant overall, the shift highlights a growing preference for hard assets amid geopolitical uncertainty and mounting concerns over sovereign debt.
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