The Strategy Advisor at the global investment management firm Van Eck Associates Corporation, Gabor Gurbacs, shared his perspectives on the value of gold in modern markets, connecting to the recent claims raised against gold.Notably, Gurbacs explained the US government’s efforts to “attack” gold, analyzing the trajectory of gold to its current secured position. He added that some leading economies and even the US Dollar stay safe “at a basic level in case of a currency collapse because of Gold.”On April 5, the Strategy Advisor shared a chain of Twitter threads on his official account, reflecting on his thoughts on how the US financial system is safe, being “the largest holder of Gold.”Interestingly, recollecting the factual history of gold in the United States, Gurbacs narrated the issue of 1933’s Executive Order 6102 by President Franklin D Roosevelt, forbidding individuals the right to hold Gold Coin, God Bullion, and Gold Certificates. Later, in 1971, President Nixon “untethered Dollar from Gold,” ending the Bretton Woods agreement.Despite the efforts of the authority to subdue gold, Gurbacs noted that it has emerged as a dominant asset, reaching the extent where “even states and central banks use gold as a hedge.”Further, he pointed out that the purchasing power of other commodities has been weakened with the influence of gold, stating:In addition, he cited that the central banks’ gold purchases in 2022 held the highest record since the 1950s. He added, focusing on today’s availability of technology, that the stablecoin Tether Gold has become what the US Dollar would have been if the Bretton Woods System had continued.The post ‘Even State and Central Banks Use Gold as Hedge,’ Says Gurbacs appeared first on Coin Edition.