Watch this variable: the dollar's shrinking share of reserves
The dollar holds about 57% of reported reserves, down from over 70% at the century's start; central banks bought over 1,000 tonnes of gold for three straight years, and gold crossed $4,000 in 2025. Nothing here says collapse. Everything says erosion, and the pace is the variable.
Sep 20, 2026 · 8 min read
