De-dollarisation Benefits Gold, Deutsche Bank Predicts Price Surge of 80 Per Cent

As one of the safe haven assets deemed resilient to inflation, gold continues to attract market participants’ attention, with interest intensifying since the outbreak of the war involving the United States and Iran. The shifting landscape of global finance is sending strong signals regarding gold’s future amid the strengthening trend of de-dollarisation. The German investment bank Deutsche Bank assesses that rising geopolitical uncertainty and global economic fragmentation are prompting many countries to shift their foreign exchange reserves from the US dollar to gold as a safe haven asset. This precious metal is projected to be the most benefited asset, with the potential to nearly double from current prices in the coming years. In its latest report released on Monday, 27 April 2026, Deutsche Bank noted that a number of central banks are increasingly aggressively adding to their gold reserves. This buying spree of gold aims to protect national economies from the risks of Western sanctions and global market volatility. “These central banks have added more than 225 million ounces of gold to their reserves since the 2008 financial crisis, while US dollar holdings have declined from over 60 per cent in the early 2000s to around 40 per cent currently,” Deutsche Bank wrote, quoted from Mining.com on Wednesday, 29 April 2026. The trend in gold purchases is no longer dominated by major countries. In addition to China, Russia, India, and Turkey, countries such as Kazakhstan, Saudi Arabia, Qatar, Egypt, and the United Arab Emirates are also beginning to increase their gold purchases. If this trend continues, the proportion of gold in global central bank reserves is estimated to rise to 40 per cent from the current around 30 per cent. In the simulation conducted, Deutsche Bank estimates that gold prices have the potential to rise significantly by nearly 80 per cent from current levels. “Deutsche Bank ran a simulation projecting that gold prices will reach US$8,000 (approximately Rp138.5 million at an estimated exchange rate of Rp17,320 per dollar) per ounce in five years,” the German bank predicts. Citing the Gold Price website, the world gold price was traded at US$4,570.05 or approximately Rp79.14 million per ounce on Wednesday, 29 April 2026 at 3:00 PM WIB. This price experienced a 0.52 per cent correction in today’s trading session.