Elena Nikulina

Central banks plan to sell dollars and buy gold, Willem Middelkoop notes

Central banks plan to sell dollars and buy gold, Willem Middelkoop notes
Central banks shift from dollars to gold

Willem Middelkoop, founder, investor, commodity fund manager at Commodity Discovery Fund, reports that central banks now consider the U.S. a riskier environment.

He indicates that these institutions intend to sell dollars and increase their gold holdings, according to his reading of CNN coverage.

Middelkoop recently said his Commodity Discovery Fund is positioned for a potential market uptrend following signs that a correction may be ending, according to a recent interview. He has also noted ongoing dip-buying of gold by Asian investors, despite efforts to push prices down in the U.S., as reported in a previous article. These observations follow renewed scrutiny of dollar holdings among central banks.

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