{"id":104161,"date":"2026-04-10T00:13:20","date_gmt":"2026-04-09T22:13:20","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=104161"},"modified":"2026-04-09T12:06:51","modified_gmt":"2026-04-09T10:06:51","slug":"zatimco-padaji-bomby-staty-utikaji-ke-zlatu-a-pryc-od-dolaru","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2026\/04\/10\/zatimco-padaji-bomby-staty-utikaji-ke-zlatu-a-pryc-od-dolaru\/","title":{"rendered":"Zat\u00edmco padaj\u00ed bomby, st\u00e1ty ut\u00edkaj\u00ed ke zlatu \u2013 a pry\u010d od dolaru"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n<p><strong><span dir=\"auto\">Zat\u00edmco sv\u011bt sleduje, jak se p\u0159\u00edm\u011b\u0159\u00ed hrout\u00ed, v pozad\u00ed se d\u011bje n\u011bco, co trhy je\u0161t\u011b pln\u011b nezohlednily: centr\u00e1ln\u00ed banky nad\u00e1le nakupuj\u00ed zlato \u2013 ne navzdory v\u00e1lce, ale pr\u00e1v\u011b kv\u016fli n\u00ed.<\/span><\/strong><\/p>\n<p><span dir=\"auto\">Sv\u011btov\u00e1 rada pro zlato tento t\u00fdden potvrdila, \u017ee \u00fanor 2026 byl 23. m\u011bs\u00edcem \u010dist\u00fdch n\u00e1kup\u016f zlata centr\u00e1ln\u00edmi bankami v \u0159ad\u011b. Jen v tomto m\u011bs\u00edci p\u0159ibylo celkem 27 tun. Polsko z\u00edskalo 20 tun, \u010d\u00edm\u017e zv\u00fd\u0161ilo sv\u00e9 rezervy na 570 tun, s deklarovan\u00fdm c\u00edlem 700 tun. Uzbekist\u00e1n p\u0159idal 8 tun, \u010d\u00edm\u017e se jeho z\u00e1soby zv\u00fd\u0161ily na 407 tun \u2013 co\u017e odpov\u00edd\u00e1 88 procent\u016fm jeho celkov\u00fdch devizov\u00fdch rezerv. Kazachst\u00e1n tak\u00e9 p\u0159idal 8 tun. \u010c\u00edna zv\u00fd\u0161ila sv\u00e9 z\u00e1soby ji\u017e 16. m\u011bs\u00edc v \u0159ad\u011b o jednu tunu, \u010d\u00edm\u017e se jejich celkov\u00fd objem zv\u00fd\u0161il na 2 308 tun.<\/span><\/p>\n<p><span dir=\"auto\">Struktur\u00e1ln\u00ed kupuj\u00edc\u00ed nebyli v\u00e1lkou zpomaleni \u2013 naopak: sv\u00e9 n\u00e1kupy urychlili.<\/span><\/p>\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-0\" class=\"\" title=\"X Post\" src=\"https:\/\/platform.twitter.com\/embed\/Tweet.html?dnt=false&amp;embedId=twitter-widget-0&amp;features=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%3D%3D&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=2042073195948470427&amp;lang=cs&amp;origin=https%3A%2F%2Funcutnews.ch%2Fwaehrend-bomben-fallen-fluechten-staaten-ins-gold-und-aus-dem-dollar%2F&amp;sessionId=74cdb5d09c26709f1c860ca7973b96dc87faab1f&amp;theme=light&amp;widgetsVersion=2615f7e52b7e0%3A1702314776716&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"2042073195948470427\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<p><span dir=\"auto\">Z\u00e1rove\u0148 se na tituln\u00ed str\u00e1nky novin dostaly prodeje z Ruska a Turecka. Rusko prodalo v \u00fanoru 6 tun, Turecko 8 tun a v b\u0159eznu odhadem dal\u0161\u00edch 50 a\u017e 60 tun, z\u0159ejm\u011b za \u00fa\u010delem stabilizace trhu. Mnoho finan\u010dn\u00edch m\u00e9di\u00ed z toho odvodilo teorii, \u017ee n\u00e1kupy zlata centr\u00e1ln\u00edmi bankami se zpomaluj\u00ed.<\/span><\/p>\n<p><span dir=\"auto\">Tato interpretace je p\u0159\u00edli\u0161 zjednodu\u0161uj\u00edc\u00ed.<\/span><\/p>\n<p><span dir=\"auto\">Rusko a Turecko neprod\u00e1vaj\u00ed zlato proto, \u017ee by ztratilo sv\u016fj v\u00fdznam. Prod\u00e1vaj\u00ed, proto\u017ee v\u00e1lka vyv\u00edj\u00ed tlak na jejich finan\u010dn\u00ed rezervy \u2013 a zlato je jedin\u00fdm aktivem, kter\u00e9 z\u016fst\u00e1v\u00e1 i pod sankcemi dostate\u010dn\u011b likvidn\u00ed. Tyto prodeje nejsou zn\u00e1mkou slabosti zlata, ale sp\u00ed\u0161e d\u016fkazem jeho trval\u00e9ho v\u00fdznamu.<\/span><\/p>\n<p><span dir=\"auto\">Pohled na ro\u010dn\u00ed \u010d\u00edsla potvrzuje struktur\u00e1ln\u00ed obraz: V roce 2025 centr\u00e1ln\u00ed banky nakoupily celkem 863 tun zlata. I kdy\u017e je to o 21 procent m\u00e9n\u011b ne\u017e v rekordn\u00edm roce 2024, st\u00e1le se jedn\u00e1 o \u010dtvrt\u00e9 nejv\u011bt\u0161\u00ed mno\u017estv\u00ed, jak\u00e9 kdy bylo zaznamen\u00e1no \u2013 a t\u00e9m\u011b\u0159 dvojn\u00e1sobek pr\u016fm\u011bru 473 tun mezi lety 2010 a 2021.<\/span><\/p>\n<p><span dir=\"auto\">O\u010dek\u00e1v\u00e1n\u00ed tak\u00e9 mluv\u00ed za v\u0161e. Pr\u016fzkumu WGC o zlat\u00fdch rezerv\u00e1ch se z\u00fa\u010dastnilo rekordn\u00edch 73 centr\u00e1ln\u00edch bank. Devades\u00e1t p\u011bt procent o\u010dek\u00e1v\u00e1, \u017ee glob\u00e1ln\u00ed zlat\u00e9 rezervy v p\u0159\u00ed\u0161t\u00edch dvan\u00e1cti m\u011bs\u00edc\u00edch budou nad\u00e1le r\u016fst. \u010cty\u0159icet t\u0159i procent konkr\u00e9tn\u011b pl\u00e1nuje zv\u00fd\u0161it sv\u00e9 rezervy. Ani jedna centr\u00e1ln\u00ed banka neo\u010dek\u00e1v\u00e1 jejich sn\u00ed\u017een\u00ed.<\/span><\/p>\n<p><span dir=\"auto\">Z\u00e1rove\u0148 se geopolitick\u00fd a finan\u010dn\u00ed r\u00e1mec nad\u00e1le m\u011bn\u00ed.<\/span><\/p>\n<p><span dir=\"auto\">V souvislosti s ned\u00e1vn\u00fdm v\u00fdvojem situace kolem Hormuzsk\u00e9ho pr\u016flivu \u00fadajn\u011b \u00edr\u00e1nsk\u00e1 revolu\u010dn\u00ed garda po\u017eaduje platby ve v\u00fd\u0161i jednoho dolaru za barel \u2013 nikoli v americk\u00fdch dolarech, ale v juanech nebo kryptom\u011bn\u00e1ch. Dolar nen\u00ed akceptov\u00e1n.<\/span><\/p>\n<p><span dir=\"auto\">Z\u00e1rove\u0148 data Mezin\u00e1rodn\u00edho m\u011bnov\u00e9ho fondu ukazuj\u00ed, \u017ee pod\u00edl dolaru na glob\u00e1ln\u00edch devizov\u00fdch rezerv\u00e1ch klesl ve \u010dtvrt\u00e9m \u010dtvrtlet\u00ed roku 2025 na 56,77 procenta \u2013 nejni\u017e\u0161\u00ed \u00farove\u0148 od roku 1994.<\/span><\/p>\n<p><span dir=\"auto\">Zem\u011b BRICS nyn\u00ed dr\u017e\u00ed p\u0159es 6 000 tun zlata, co\u017e p\u0159edstavuje 17,4 procenta sv\u011btov\u00fdch rezerv centr\u00e1ln\u00edch bank \u2013 co\u017e je v\u00fdrazn\u00fd n\u00e1r\u016fst oproti 11,2 procenta v roce 2019. Indie tak\u00e9 navrhla propojen\u00ed digit\u00e1ln\u00edch m\u011bn centr\u00e1ln\u00edch bank zem\u00ed BRICS. \u010c\u00edna a Rusko nyn\u00ed realizuj\u00ed sv\u016fj bilater\u00e1ln\u00ed obchod v hodnot\u011b 244 miliard dolar\u016f v\u00fdhradn\u011b v juanech a rublech.<\/span><\/p>\n<p><span dir=\"auto\">Zlato je j\u00e1drem tohoto v\u00fdvoje.<\/span><\/p>\n<p><span dir=\"auto\">Je to jedin\u00e9 rezervn\u00ed aktivum bez rizika protistrany, bez n\u00e1chylnosti k sankc\u00edm, bez z\u00e1vislosti na syst\u00e9mu SWIFT a bez politick\u00fdch vazeb. Ti, kdo dr\u017e\u00ed dolary, jsou potenci\u00e1ln\u011b vystaveni americk\u00fdm sankc\u00edm. Ti, kdo dr\u017e\u00ed juany, jsou vystaveni \u010d\u00ednsk\u00fdm m\u011bnov\u00fdm intervenc\u00edm. Ti, kdo dr\u017e\u00ed zlato, disponuj\u00ed aktivem, kter\u00e9 nelze zmrazit, znehodnotit ani politicky manipulovat \u2013 pokud je fyzicky dostupn\u00e9.<\/span><\/p>\n<p><span dir=\"auto\">Sou\u010dasn\u00fd konflikt je toho praktick\u00fdm d\u016fkazem. Turecko bylo schopno pod extr\u00e9mn\u00edm tlakem p\u0159em\u011bnit zlato na likviditu, aby stabilizovalo svou m\u011bnu \u2013 bez souhlasu Washingtonu nebo Pekingu.<\/span><\/p>\n<p><span dir=\"auto\">Cenov\u00e9 progn\u00f3zy tento trend tak\u00e9 odr\u00e1\u017eej\u00ed. JPMorgan o\u010dek\u00e1v\u00e1, \u017ee cena zlata do konce roku dos\u00e1hne 6 300 dolar\u016f, zat\u00edmco Goldman Sachs p\u0159edpov\u00edd\u00e1 5 400 dolar\u016f. Wells Fargo zv\u00fd\u0161ila svou progn\u00f3zu na rozmez\u00ed 6 100 a\u017e 6 300 dolar\u016f. 8. dubna cena zlata \u010dinila 4 723 dolar\u016f \u2013 zhruba o dev\u011bt procent m\u00e9n\u011b ne\u017e lednov\u00e9 maxima.<\/span><\/p>\n<p><span dir=\"auto\">Struktur\u00e1ln\u00ed z\u00e1klad v\u0161ak z\u016fst\u00e1v\u00e1 nedot\u010den: trvale vysok\u00e1 popt\u00e1vka centr\u00e1ln\u00edch bank ve v\u00fd\u0161i 863 tun ro\u010dn\u011b a geopolitick\u00e9 p\u0159eskupen\u00ed, v n\u011bm\u017e se i strategick\u00e1 \u00fazk\u00e1 m\u00edsta, jako je Hormuzsk\u00fd pr\u016fliv, st\u00e1le v\u00edce \u0159e\u0161\u00ed mimo dolarov\u00fd syst\u00e9m.<\/span><\/p>\n<p><span dir=\"auto\">V\u00e1lka teorii o zlat\u011b neoslabila. Sp\u00ed\u0161e ji potvrdila.<\/span><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-1185\" src=\"http:\/\/www.infokuryr.cz\/n\/wp-content\/uploads\/2021\/04\/kuryr-podpis.png\" alt=\"\" width=\"84\" height=\"24\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zat\u00edmco sv\u011bt sleduje, jak se p\u0159\u00edm\u011b\u0159\u00ed hrout\u00ed, v pozad\u00ed se d\u011bje n\u011bco, co trhy je\u0161t\u011b&#8230;<\/p>\n","protected":false},"author":2,"featured_media":53334,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[1324,276,693],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/104161"}],"collection":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/comments?post=104161"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/104161\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/53334"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=104161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=104161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=104161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}