Professional summarizer: El-Erian highlights the potential for a gradual decrease in the dollar’s dominance through various global efforts, including the increased interest in gold reserves by BRICS central banks. Despite traditional correlations between gold prices and central bank interest rates, recent trends show a divergence with gold prices rising even as rates are cut. This shift has led to a surge in investor interest, with gold futures holdings tripling in the past year, driven by both central bank actions and speculative investor behavior.
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