New survey shows central banks are starting to ditch the dollar and buy more gold instead — should you do the same?

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Central banks have been buying gold at a record pace. Now, some of them are signaling they may want a little less exposure to the U.S. dollar, too.

That’s the takeaway from a new survey (1) of global reserve managers. The Official Monetary and Financial Institutions Forum (OMFIF) says it’s the first time its survey has found more central banks planning to reduce their dollar exposure over the next decade than increase it.

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At the same time, OMFIF found gold remains the reserve asset central banks are most interested in adding.

It’s a notable shift for a financial system built around the dollar for decades.

The U.S. currency still dominates global finance. It remains the largest component of central bank reserves and demand for U.S. Treasury bonds remains strong. There is little indication that countries are preparing to walk away from the dollar entirely.

Instead, many appear to be taking a different approach: hedging their bets.

Reserve managers cited concerns including geopolitical tensions, government debt and changing global trade relationships as reasons to look beyond a single currency. For some countries, holding more gold or other currencies is simply a way to avoid placing too much faith in a single financial system.

Gold, in particular, has benefited from that thinking.

Even with some recent volatility, the metal remains near historic highs — up over 20% year over year and up 112% over the past 5 years (2). Unlike flat currencies, gold isn’t printed at will by central banks and doesn’t depend on a country’s economic policies. That’s one reason central banks tend to hold precious metal for generations — and why official purchases are holding strong in recent years.

And Bridgewater Associates founder Ray Dalio has made a similar argument, writing in Time (3) that “gold is a money” that is “least at risk of being devalued.” He has argued that investors should think of gold as a diversifier rather than a replacement for traditional assets.

But individual investors should be careful about drawing a direct comparison.

A central bank managing billions of dollars in reserves has very different goals from someone building a retirement portfolio. Governments need liquidity and stability. Investors usually need long-term growth.

Still, there is one idea that applies to both: Putting all your eggs in one basket can create problems.

That’s why some people have been looking beyond traditional stocks and bonds and adding other asset classes to their portfolios.

Here are three options investors are exploring to diversify their portfolios.

Gold has been getting attention from central banks

Central banks aren’t the only ones watching gold. Supporters of gold often point to its long history as a store of value, especially during periods of rising inflation or weakening currency confidence.

And some investors are turning to precious metals as a way to add another type of asset to their retirement savings. One option is a self-directed Gold IRA, which allows eligible investors to hold IRS-approved gold and silver inside a retirement account.

This is where companies like Goldco come in.

For investors interested in exploring this option, opening a gold IRA with the help of Goldco allows you to invest in gold and other precious metals in physical forms while also providing the significant tax advantages of an IRA.

With a minimum purchase of $10,000, Goldco offers free shipping and access to a library of retirement resources. And the best part? The company will match up to 10% of qualified purchases in free silver.

If you’re curious whether this is the right investment to diversify your portfolio, you can download your free gold and silver information guide today.

But while gold has its advantages, it doesn’t pay dividends or interest and its price can rise and fall based on investor demand, economic conditions and global events.

For that reason, many financial professionals view precious metals as one piece of a broader investment strategy rather than a replacement for traditional assets.

Read More: Millionaires under 43 hold only 25% of their wealth in stocks. Here’s where their money is actually going

Real estate exposure without the hefty down payment

Real estate is another asset class investors often consider when looking beyond the stock market.

But owning a rental property isn’t for everyone. Along with the upfront cost, landlords have to deal with maintenance, vacancies, repairs and the day-to-day responsibilities that come with managing a property.

Rental properties have long been a proven source of steady, passive income for high-net-worth investors. It’s no wonder that real estate accounts for nearly 25% of the typical family office portfolio. However, the time, effort and costs involved in managing and maintaining multiple properties prevent many from getting in on this asset class.

Mogul offers to fill this market void.

This real estate investment platform offers fractional ownership in blue-chip rental properties, which gives investors monthly rental income, real-time appreciation and tax benefits — without the need for a hefty down payment or 3 a.m. tenant calls.

Founded by former Goldman Sachs real estate investors, the team handpicks the top 1% of single-family rental homes nationwide for you. Simply put, you can invest in institutional-quality offerings for a fraction of the usual cost.

Depending on the investment, those opportunities can include multifamily housing, office space and industrial properties.

Each property undergoes a vetting process, requiring a minimum 12% return even in downside scenarios. Across the board, the platform features an average annual IRR of 18.8%. Their cash-on-cash yields, meanwhile, average between 10% and 12% annually. Offerings often sell out in under three hours, with investments typically ranging between $15,000 and $40,000 per property.

Investors may receive income distributions and could benefit from property appreciation, although private real estate investments can be less liquid than publicly traded investments and returns are not guaranteed.

Every investment is secured by real assets and is not dependent on the platform’s viability. Each property is held in a standalone Propco LLC, so investors own the property — not the platform. Blockchain-based fractionalization adds a layer of safety, ensuring a permanent, verifiable record of each stake.

Investing in fine art is no longer limited to collectors

Like gold and real estate, fine art has become another alternative asset investors consider when diversifying their portfolios.

Until recently, however, investing in museum-quality artwork was largely reserved for wealthy collectors with access to major auction houses and millions of dollars to spend.

It’s an option that holds appeal for investors looking beyond traditional stocks and bonds, especially during periods when markets appear expensive or volatile — exactly the scenario Goldman Sachs CEO David Solomon described at the Global Financial Leaders’ Investment Summit in November 2025: “It’s likely there’ll be a 10 to 20% drawdown in equity markets sometime in the next 12 to 24 months,” he said.

Meanwhile, the Shiller P/E has just soared past 40x, a level last seen in 1999, hinting that the decade ahead may bring below-average returns for those tied to the S&P 500.

With these alarms sounding, diversification isn’t just smart — it’s essential.

Billionaires like Jeff Bezos and Bill Gates continue to invest heavily in stocks, but they also carve out a portion of their portfolios for assets that behave differently from the market.

One standout example: post-war and contemporary art, which outpaced the S&P 500 by 15% from 1995 to 2025 while showing near-zero correlation to traditional equities.

Companies like Masterworks, now allow investors to buy fractional interests in individual works of art, making that market more accessible.

The idea is similar to owning a small piece of a larger investment. If a work of art is eventually sold for more than its purchase price, investors may share in the potential gains based on their ownership stake.

And now, with Masterworks, you can buy fractional shares in multimillion-dollar works by icons like Banksy, Picasso and Basquiat.

Of course, fine art comes with its own risks. Artwork can take time to sell, valuations can be subjective and there is no guarantee a piece will increase in value.

Masterworks has sold 31 artworks so far, yielding net annualized returns like 14.6%, 17.6% and 17.8%. While art can be illiquid and typically requires a long-term hold, it offers unique portfolio diversification.*

And Moneywise readers can now get priority access: Skip the waitlist here.

*Past performance is not indicative of future returns. Investing involves risk. See important Regulation A disclosures atMasterworks.com/cd (4).

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Article Sources

We rely only on vetted sources and credible third-party reporting. For details, see ourethics and guidelines.

OMFIF (1); Apmex (2); Time (3); Masterworks (4)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.