↑ De-dollarization rises → Gold falls ↓Source: IMF COFER (Currency Composition of Official Foreign Exchange Reserves)·Quarterly · ~1 quarter lag
Loading historical data…% of reserves
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What is the De-dollarization?
This tracks how much of the world's central bank reserves are held in US dollars. It's been falling for decades: from 73% in 2000 to roughly 58% today. 'De-dollarization' is the name for that slow decline — countries gradually holding less of their savings in dollars.
The number shown here IS the dollar's share, not a 'de-dollarization score' — so when it falls, de-dollarization is speeding up. When it rises, the dollar is regaining ground.
How does it affect gold?
↓ Rule: When De-dollarization rises → gold tends to fall
As countries hold fewer dollars, that money has to go somewhere — and gold is one of the main places it goes, because it isn't any single country's currency and can't be frozen or sanctioned by a foreign government.
When this number falls (less dollar dominance), that's bullish for gold. When it rises (dollar regaining share), that's a headwind.
This moves slowly — think years and decades, not days.