Central banks are leading a revolt against the US dollar and shifting to gold at a record pace, market expert says

• Central banks are turning away from the US dollar and shifting to gold, Ruchir Sharma wrote.
• Central banks account for a record 33% of monthly global demand for gold, he said in the FT.
• "Thus the oldest and most traditional of assets, gold, is now a vehicle of central bank revolt against the dollar."

Assurance in the dollar's dominance ignores signs that countries are serious about seeking alternatives, according to Ruchir Sharma.

This is illustrated when taking account of recent trends in gold: the safe haven commodity has surged 20% in the last half year.