Alberto Musalem, President of the Federal Reserve Bank of St. Louis, stated that he sees no conditions that would unseat the US dollar as the primary global reserve currency. He highlighted the US economy’s strengths, including innovation and the effective rule of law. The US dollar currently accounts for approximately 57% of global foreign exchange reserves, cementing its dominant position. This outlook for dollar stability could impact gold prices, as the precious metal is traditionally seen as a safe-haven asset. Prediction markets suggest a lower likelihood of gold reaching higher price targets in August 2026.
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