New Found Gold Corp V.NFG

Gold the new Reserve Asset

[nozzpack]

The continueing decline of the USD is almost certain now that the Petrodollar agreement has ended.
There are many other reasons which are explained in this excellent article which expects POG to exceed $7000 US by 2030..

https://www.kitco.com/news/article/2024-06-14/gold-new-reserve-asset-price-target-7k-15k-2030-just-return-long-term

[Dixiedee]

With the petro dollar agreement not being renewed I wonder the military position of that agreement that  allowed USA bases in saudia Arabia and the guarantee of USA protection against any aggression against Saudi Arabia the USA. Maybe losing a strategic advantage in the Middle East .will China now be filling that void .policy does matter and are now catching up to multiple years of bad ones

[Evenkeel123]

It's also nice to read in that article Gromen rules out that the USD will get replaced, stating that it will remain the global reserve currency.  The USD is still king of the junk pile of fiat, but it's still the best out there. EK

[Dixiedee]

King of a smaller kingdom it is becoming a district reserve currency it is losing its world status  The bric countries have the majority of the world's population and soon the world trade majority  Russia holds no US$ China continues to dump dollars for gold saudia Arabia is accepting all currencies for its oil now all this adds up to less demand for US$ we all now what less demand

[nozzpack]

The USD has been Declining as a proportion of International trade for quite a while. That decline will accelerate with the removal of the Petrodollar obligation and by the BRICS who dominate international trade . Plus the weaponization of the USD has accelerated the dumping of USTs. Gold is once again returning to its 5000 year old function as currency . No better proof than the fact the the