Gold Seen as Global Reserve Currency Amid Central Bank Purchases

Gold, used as money for over 5,000 years, is being described as a de‑facto global reserve currency. Analysts note that central banks have collectively bought roughly 1,000 tonnes of gold each year in recent years, bolstering its status as a stable, portable store of value.

Technical charts show gold trading in a consolidation triangle around $3,960 per ounce, with a breakout above $4,094‑$4,159 seen as needed for further price gains. Silver faces resistance near $58.98 per ounce. Market observers say the gold market is now less sensitive to interest‑rate moves, though higher U.S. bond yields and a stronger dollar add pressure.

The commentary also references geopolitical tensions, such as the Strait of Hormuz and developments in the Red Sea, as background factors. In the Yukon, Banyan Gold Corp’s flagship AurMac project has identified a new zone with visible gold, following recent high‑grade mineralization discoveries.