As the dominance of the US dollar weakens, central banks around the world are turning their attention to gold, euros, and renminbi.

On June 24, the trillions of dollars of foreign exchange reserves of the world’s central banks are focusing on shifting from the US dollar to gold, the euro and the yuan. A third of the 75 central banks under management totaling $5 trillion in assets plan to increase their exposure to gold in the next one to two years, the highest level in at least five years, according to a report to be released late Tuesday by think tank Official Monetary and Financial Institutions Forum (OMFIF). The survey was conducted between March and May and reflects the impact of U.S. President Donald Trump’s April 2 Liberation Day tariffs. Central banks have been increasing their holdings of gold at a record pace, and in the longer term, gold is expected to benefit, with a net 40% of central banks planning to add to their holdings over the next 10 years. In addition, the U.S. dollar, the most popular currency in last year’s survey, fell to seventh place this year, with 70 percent of respondents saying the U.S. political environment made them reluctant to invest in the U.S. dollar, more than double a year ago, OMPHIF said.