Record gold and silver prices highlight growing threat to US dollar dominance

The US dollar’s standing as the world’s primary safe-haven asset is increasingly being challenged, as global investors and central banks are rapidly pivoting towards gold and silver, amid rising geopolitical and economic uncertainty. “Globally, there are two main safe-haven assets; one is the US dollar, and the other is gold,” Syed Osama Rizvi, Global Market and Product Strategist at Primary Vision, said while talking to Aaj News programme Dus with Imran Sultan on Sunday. Explaining the ongoing rise in yellow metal, Rizvi explained that historically, whenever geopolitical tensions arose, the US was insulated and isolated from direct impact, playing the role of a stabiliser. As a result, the US dollar remained the top store of value.