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 ?
If the dominance of the US dollar decreases, then gold reserves will automatically increase and people from different countries will continue to invest in gold. Donald Trump's imposition of tariffs on various countries will be responsible for the decline in the dominance of the US dollar. Moreover, due to such volatile market conditions in the Bitcoin market, Bitcoin investors are becoming interested in investing in gold.
Yes, you are right, people will definitely turn to gold if the dollar value goes down. There are already some activities aimed at decreasing the dollar's value, such as BRICS, which is making the dollar less dominant in Asia. Besides the dollar, crypto users also want to invest in gold because they fear a sudden market crash. They worry that if it happens, at least they will have some investments they can utilize to recover themselves. Gold is a stable asset, and if something were to happen, people would definitely turn to gold investments to secure their future.