Gold resurgent at US Treasuries expense
Kia ora.
Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.
I'm David Chaston and this is the international edition from Interest.co.nz.
Today we lead with news of a changing of the guard. Countries are moving away from US Treasuries as a core reserve asset, replacing it with gold. At the same time, crypto values including for bitcoin, seem to be fading fast.
But first up today, there was a full dairy auction overnight, one that brought slightly lower overall prices, with the USD index falling -0.6% mainly on -3% lower SMP…
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