I was watching a video where they told that now most countries are depositing gold as reserves instead of buying US dollar deposits. Does this mean that price of gold will be uncontrollable in coming years ? Is it going to affect the buying behavior related to gold for common people ?
This is not just a current story, since ancient times, the power and economic status of various states or kings or countries depended on their gold reserves.
And this is still going on today. If we see that currently the most powerful country is the United States of America and they also have the largest gold reserves in the world. That means there is a connection between power and gold reserves.
So why wouldn't other countries want to increase their gold reserves? USD is the national currency of the USA, so if they keep it in reserve, they can be controlled by the USA, for example, if the USA wants, it can create inflation in the market by printing money at will.
On the other hand, gold is relatively limited, so most countries in the region are interested in adopting it as a central reserve. And I think that will increase the price of gold even more.