Hedge fund manager David Einhorn predicts a historic shift in global reserves as central banks move away from U.S. dollars toward gold, citing unstable U.S. trade policy and soaring deficits.

After a strong start, the price of gold slipped twice to around $5,060 during this trading week. Now, it appears that gold prices might manage to stay just above $5,100 heading into the weekend, continuing the persistent sideways movement of the past five weeks.

Geopolitical tensions, and concerns about fiscal policy and central banks, have driven the gold price to where it is today.

Hong Kong is accelerating its drive to become a global gold trading hub, in a move that supports China’s broader ambition to strengthen its influence over international bullion markets amid a shifting geopolitical landscape and record-high prices.

[SMM Aluminum Express News] Inalum CEO Melati Sarnita expressed optimism that Indonesia can achieve aluminum self-sufficiency by 2030. She highlighted that reducing import dependence on alumina and aluminum could boost foreign exchange reserves by 394%—from Rp11 trillion to Rp52 trillion annually—by providing domestic manufacturers with reliable local raw material supply. The strategy emphasizes import substitution and integration of green energy in the aluminum value chain, supported by ongoing downstream projects (bauxite-alumina-smelter) in Mempawah and elsewhere.

Driven by the decline in the US dollar index and the overall rise in global financial asset prices, China's foreign exchange reserves continued their upward trend. Data released by the State Administration of Foreign Exchange on February 7 showed that, as of the end of January, China's foreign exchange reserves amounted to $3,399.1 billion, an increase of $41.2 billion from the end of December 2025, representing a growth of 1.23%. Data published on the same day on the website of the People's Bank of China indicated that, as of the end of January, China's gold reserves reached 74.19 million ounces, up 40,000 ounces MoM. This marks the 15th consecutive month that the People's Bank of China has increased its gold holdings.