Central banks shift reserves from dollar to gold, euro and yuan

The custodians of trillions of dollars of global central bank reserves are eyeing a move away from the greenback into gold, the euro and China’s yuan as the splintering of world trade and geopolitical upheaval spark a rethink of financial flows.

According to a report by the Official Monetary and Financial Institutions Forum (OMFIF), one in three central banks managing a combined $5 trillion plan to increase exposure to gold