European asset management giant Amundi says that under the de-dollarization trend, there is still room for gold to rise.

Amundi SA stated that as the United States becomes increasingly estranged from other countries, it has prompted many investors to reduce their holdings of US dollar assets and switch to gold, with the price of gold expected to continue to rise. Vincent Mortier, Chief Investment Officer of this largest asset management company in Europe, said that the massive US deficit and uncertainty about future Federal Reserve policies are also factors driving funds to shift towards gold and away from the US dollar. "For the past two and a half years, we have been allocating to gold, and I believe that this strategy can continue, because in the long term, gold is a very good means of hedging against currency depreciation and maintaining purchasing power," he said.