Gold Price Reaches New All Time High

Gold has surged to a new all-time high of over $2,555 per ounce, driven by economic uncertainties, expectations of a Federal Reserve rate cut, and increasing demand as a safe-haven asset. ING projects gold to average $2,700 by 2025, supported by geopolitical tensions, lower interest rates, and rising central bank purchases.

Gold Replacing the Dollar as Reserve Currency for BRICS Members

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Central banks across the Global South have been actively bolstering their gold reserves in anticipation of this transition. China, a major player in this shift, has been consistently purchasing gold for 18 consecutive months, with a staggering $53.3 billion worth of U.S. Treasuries being sold off since the beginning of the year.

Zimbabwe Takes Steps to Move Towards a Gold Standard

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Currently, the Zimbabwe gold-backed digital currency that was introduced in 2023, is in use as legal tender and a store of value alongside the Zimbabwean dollar and bond notes. According to state-owned media reports, the country’s central bank currently holds roughly 793kgs of gold in reserves valued at roughly $49 million at the current price with plans to grow reserves to around $100m.

New Catalyst $10 bill expected in 2026

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It’s been more than ten years since then US Treasury Secretary Jacob Lew announced a new project to redesign the nations currency, beginning with the $10 note.

At the time of the announcement, the designs for the new $10 bill were expected to be unveiled in 2020 to correlate with the 100th anniversary of 19th Amendment, which granted women the right to vote.