Article Per Year (5 Year)
p-Index From 2021 - 2026
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All Journal Journal of Innovation, Business Management and Entrepreneurship
Dian Eka Wahyuni
Department Management, Universitas Negeri Yogyakarta, Yogyakarta, Indonesia
Economics, Econometrics & Finance

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Gold Is Once Again Becoming The World's Favorite Reserve Asset: The Dynamics of De-dollarization Dian Eka Wahyuni; Rintan Dwi Aprilian; Bintang Lazuardi Benteng Buana Muslim
Journal of Innovation, Business Management and Entrepreneurship Vol. 1 No. 2 (2025): Innovation
Publisher : Journal of Innovation, Business Management and Entrepreneurship

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31101/imbas.v1i2.4603

Abstract

The acceleration of the trend toward de-dollarization reflects structural transformation in the global financial architecture. This study aims to analyze the main drivers of this phenomenon and the strategic role of gold, which has once again become the preferred global reserve asset. Using a descriptive qualitative approach with secondary data from the World Gold Council and the IMF (2010-2024 period), this study identifies three key factors: geopolitics (financial sanctions and rivalry between major powers), economics (US fiscal deficits and inflation), and structural factors (BRICS efforts to establish a non-dollar payment system). The results show that gold has been repositioned as a strategic “shield” against the risks of sanctions and monetary uncertainty, rather than merely an investment commodity. In conclusion, the aggressive accumulation of gold by central banks signals a shift towards a multipolar order, where economic stability and sovereignty take precedence over the efficiency of the dollar-based system.
Co-Authors Bintang Lazuardi Benteng Buana Muslim Rintan Dwi Aprilian