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By Andrea Shalal
Fri, June 26, 2026 astatine 12:06 PM CDT 1 min read
By Andrea Shalal
WASHINGTON, June 26 (Reuters) - Global commercialized flows and relationships are shifting aft U.S. President Donald Trump imposed unilateral tariffs connected astir countries, but the U.S. dollar continues to anchor planetary trade, banking and cardinal slope reserves, the International Monetary Fund's chief economist said connected Friday.
Pierre-Olivier Gourinchas, who volition permission the IMF and instrumentality to teaching adjacent week, told Reuters successful an interrogation that adjacent crisp increases successful the terms of golden implicit the past fewer years had been mostly driven by the emergence of golden exchange-traded funds that allowed investors to bargain into golden without holding the carnal metal.
Stablecoin issuers were besides holding golden arsenic an asset, which was driving request and prices higher, but adjacent cardinal banks were not actively buying gold.
"We are seeing very, precise small successful terms of movements that would bespeak that we're moving distant from a dollar-centered world. We are precise firmly successful the dollar-centered world," helium said. "That doesn't mean that it couldn't alteration astatine immoderate point, but truly the acceptable of developments we've seen the 10 years, we're seeing very, precise insignificant things."
Gold edged higher connected Friday arsenic the dollar weakened and expectations of U.S. involvement complaint hikes eased somewhat aft the previous day's U.S. ostentation information suggested terms pressures may person peaked. Gold was inactive connected way for a 4th consecutive play decline.
Spot golden was up astir 1.4% to $4,083 per ounce successful aboriginal day trading.
The U.S. dollar eased from caller highs aft the release of the Fed's preferred ostentation gauge connected Thursday.
(Reporting by Andrea Shalal;Editing by Dan Burns)
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