New surveys show central banks are ditching the dollar and buying more gold instead — should you follow along?

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Central banks are still piling into gold — and new surveys suggest they're also preparing to reduce their exposure to the U.S. dollar over the longer term.

That's the takeaway from a new survey (1) of global reserve managers. The Official Monetary and Financial Institutions Forum (OMFIF) says it's the first time its survey has found more central banks planning to reduce their dollar exposure over the next decade than increase it.

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At the same time, OMFIF found gold remains the reserve asset central banks are most interested in adding.

The findings were reinforced by a separate 2026 World Gold Council survey (2). It found 74% of respondents expect the dollar's share of global reserves to fall over the next five years, while 89% expect global central bank gold holdings to rise over the next year. A record 45% also expect to increase their own gold holdings.