IMF chief economist Gourinchas says global economy remains firmly ’dollar-centered’

Economy

Published06/26/2026, 01:00 PM

Updated06/26/2026, 01:12 PM

View all comments (0)0

IMF chief economist Gourinchas says global economy remains firmly ’dollar-centered’

View all comments (0)0

In this article:

Gold Spot US Dollar+1.39%

GC+1.24%

By Andrea Shalal

WASHINGTON, June 26 (Reuters) - Global trade flows and relationships are shifting after U.S. President Donald Trump imposed unilateral tariffs on most countries, but the U.S. dollar continues to anchor international trade, banking and central bank reserves, the International Monetary Fund’s chief economist said on Friday.

Pierre-Olivier Gourinchas, who will leave the IMF and return to teaching next week, told Reuters in an interview that even sharp increases in the price of gold over the past few years had been largely driven by the rise of gold exchange-traded funds that allowed investors to buy into gold without holding the physical metal.

Stablecoin issuers were also holding gold as an asset, which was driving demand and prices higher, but even central banks were not actively buying gold.

"We are seeing very, very little in terms of movements that would indicate that we’re moving away from a dollar-centered world. We are very firmly in the dollar-centered world," he said. "That doesn’t mean that it couldn’t change at some point, but really the set of developments we’ve seen the 10 years, we’re seeing very, very minor things."

Gold edged higher on Friday as the dollar weakened and expectations of U.S. interest rate hikes eased slightly after the previous day’s U.S. inflation data suggested price pressures may have peaked. Gold was still on track for a fourth consecutive weekly decline.

Spot gold was up about 1.4% to $4,083 per ounce in early afternoon trading.

+1.39%GC+1.24%

Gold Spot US Dollar

Analyze Gold Spot US Dollar

Included in our AI-picked strategies

Review strategies

4,082.64

▲+55.86(+1.39%)

Real-time Data

Max

In this article

XAU/USD+1.39%GC+1.24%

Analyze Gold Spot US Dollar

The U.S. dollar eased from recent highs after the release of the Fed’s preferred inflation gauge on Thursday.

What should you actually own right now?

The best investments start with better data. Going with your gut has its place, but when excitement masquerades as intuition, it can lead to costly mistakes—or analysis paralysis.

InvestingPro combines institutional-grade data with AI-powered insights that you don't need a finance PhD to understand. It won't guarantee winners, but it will certainly help you find more of them, more often.

So what are the best investments of 2026 so far?

Ask WarrenAI, then decide

IMF chief economist Gourinchas says global economy remains firmly ’dollar-centered’

View all comments (0)0

Latest comments

Post

Comment Guidelines

Industry Spotlight

5 Things You Need to Know About the Gold and Silver Selloff

Apr 20, 2026•

By Daniela Hathorn

Trade With A Regulated Broker

Indices

Commodities

Bonds

Stocks

Max

US 30

51,986.90

+66.0

+0.13%

US 500

7,372.80

+14.8

+0.20%

Dow Jones

51,992.10

+71.48

+0.14%

S&P 500

7,372.08

+14.59

+0.20%

Nasdaq

25,407.65

+49.05

+0.19%

S&P 500 VIX

18.84

-0.05

-0.26%

Dollar Index

101.095

-0.098

-0.10%

Crude Oil WTI Futures

69.08

-2.84

-3.95%

Brent Oil Futures

72.47

-3.03

-4.01%

Natural Gas Futures

3.351

+0.056

+1.70%

Gold Futures

4,097.87

+50.27

+1.24%

Silver Futures

59.06

+0.699

+1.20%

Copper Futures

6.147

+0.0730

+1.20%

US Soybeans Futures

1,155.38

-0.63

-0.05%

U.S. 10Y

4.367

-0.022

-0.50%

U.S. 30Y

4.865

+0.006

+0.12%

U.S. 5Y

4.127

-0.036

-0.86%

U.S. 3M

3.752

-0.019

-0.50%

US 10Y T-Note Futures

110.27

+0.17

+0.16%

Euro Bund Futures

127.44

+0.17

+0.14%

10-2 Yield Spread

31.32

+4.15

+15.27%

AAPL

278.94

+3.79

+1.38%

NVDA

194.33

-1.42

-0.72%

GOOGL

341.82

-1.89

-0.55%

TSLA

385.87

+10.75

+2.86%

AMZN

231.07

+4.06

+1.79%

NFLX

73.95

+3.05

+4.30%

Name	Last	Chg. %	Vol.
NVDA	194.33	-0.72%	65.17M
AAPL	278.94	+1.38%	47.08M
MSFT	369.88	+4.83%	38.86M
MU	1,177.90	-2.94%	36.34M
AMZN	231.07	+1.79%	36.33M
TSLA	385.87	+2.86%	26.26M
SNDK	2,166.13	-7.23%	6.98M

Name	Last	Chg. %	Vol.
MRNA	66.60	+11.46%	9.05M
FDS	228.21	+9.27%	562.47K
NOW	96.71	+8.03%	13.52M
APP	480.25	+7.70%	1.53M
WDAY	121.05	+6.39%	2.01M
LLY	1,200.87	+6.49%	3.46M
AXON	471.62	+6.05%	532.21K

Name	Last	Chg. %	Vol.
ON	90.88	-23.46%	24.17M
WDC	592.22	-12.31%	8.23M
ADI	387.27	-7.34%	4.03M
STX	944.16	-7.92%	3.69M
SNDK	2,162.73	-7.38%	6.98M
HPE	43.64	-6.60%	18.34M
MCHP	87.64	-6.88%	4.26M

Trending Stocks

Name	Last	Chg. %	Vol.
MU	1,177.44	-2.98%	36.36M
SPCX	157.32	+2.82%	41.26M
MSFT	369.88	+4.83%	38.92M
SNDK	2,164.57	-7.30%	6.99M
NVDA	194.32	-0.73%	65.23M

ProPicks AI

AI-powered stock picks with a proven track record to beat the S&P 500.

Tech Titans

Stocks in this Strategy

aaaa aaaaa aaaa a