On recent Gold price surge...
“Is the Dollar Dead, and Gold Ascendant?” Understanding the Recent U.S. Dollar Decline and Gold’s Explosive Rally I. Overview — A Shock in the Global Market In the second half of 2025, global financial markets have witnessed a dramatic dual move: The U.S. dollar weakened sharply , with the DXY index falling across multiple sessions; Gold prices soared past $4,000/oz , a historic all-time high; Central banks and institutional investors poured into bullion and ETFs at record pace; The market increasingly priced in Fed rate cuts , suppressing nominal yields and boosting demand for non-yielding assets like gold. These two phenomena — a weaker dollar and surging gold — are not random. They are two sides of the same global macro equation : one reflecting a loss of monetary confidence, the other a return to tangible stores of value. II. The Decline of the Dollar — Structural and Cyclical Drivers For nearly eight decades, the U.S. dollar has been the backbone of global reserves, trade, and debt issuance. At its peak, it accounted for nearly 70% of official foreign exchange reserves. But over the past decade, that dominance has gradually eroded : Th
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