Why Countries Are Dumping Dollars for Gold

Deep under London sit about 400,000 bars of gold. Thirty-one tonnes of it belong to Venezuela, and after eight years Venezuela still can't get it back. Since Russia's reserves were frozen in 2022, central banks have bought gold faster than at any time in more than half a century. More than 1,000 tonnes a year. Germany, France and the Netherlands have been moving gold out of New York. Yet gold has fallen about 30% from its January peak. In this video: 0:00 The gold Venezuela can't touch 0:55 Part 1: The locked vault 3:10 Part 2: The freeze 4:19 Part 3: The gold rush 5:55 Part 4: Bringing it home 7:30 Part 5: The paradox: record buying, falling price 9:28 Part 6: Is it a bargain? 10:24 What it really tells us This video is for education only and isn't financial advice. Books I recommend (affiliate links): Prisoners of Geography, Tim Marshall: https://link.amazon/B02zckNRP Black Wave, Kim Ghattas: https://link.amazon/B09ERJ66h As an Amazon Associate I earn from qualifying purchases. SOURCES - World Gold Council: Gold Demand Trends (full year 2022–2025; Q2 and Q3 2026); Central Bank Gold Reserves Survey 2026 - European Central Bank: The international role of the euro (June 2025) - UK Supreme Court: Maduro Board v Guaidó Board [2021] UKSC 57 - Financial Times reporting on the Venezuela gold deal (September 2026) - Banque de France: annual results 2025/26 (New York gold sale and repurchase) - De Nederlandsche Bank: gold relocation announcement (September 2026) - Deutsche Bundesbank: gold storage and repatriation (2013–2017) - National Bank of Poland: gold reserve data (September 2026) - People's Bank of China: monthly reserve data - Gold prices: LBMA / market data (record $5,589.38, 28 Jan 2026; low below $3,900, 30 Oct 2026) CREDITS All maps, charts and animations: Mapwise. Map data: Natural Earth (public domain). TAGS gold, central banks, gold price, Venezuela gold, Bank of England, Russia frozen reserves, gold reserves, Poland gold, de-dollarization, geopolitics, economics explained, maps