Spanish
The Central Bank of the Dominican Republic explained why it is not betting on gold as a safe haven asset, like other Central Banks of countries such as Russia, China, Turkey and India, who have the largest recorded increases.
The Dominican Central Bank indicated that in these cases, the accumulation of gold has been closely linked to financial sanctions, restrictions on access to international markets, and diversification strategies in the face of geopolitical risks, and that this behavior does not constitute a homogeneous or generalizable trend, but rather a response to specific circumstances of certain countries.
He also explained that the US dollar continues to be the main reserve asset globally, representing 56.92% of the currency composition of global international reserves at the end of the third quarter of 2025.
Empirical evidence indicates that this greater accumulation of gold has not generally led to a substitution process for the US dollar.
The response from the highest monetary authority is given because in this context, some economists have suggested the convenience of increasing the participation of gold within the portfolio of international reserves to reach a minimum level, with the argument that it would allow the release of dollars and strengthen the equity position through greater diversification of assets.
Others, on the other hand, have emphasized the relevance of gold within the export sector, highlighting its role as a source of tax revenue. Additionally, other analysts have pointed out the possibility of promoting the use of gold as an input for smelting processes and the production of jewelry for export.
This year, gold has surpassed US$5,000 per troy ounce, representing an increase of nearly 75% compared to the close of January 2025.
