Gold Overtakes US Treasuries as Top Central Bank Reserve Asset, ECB Reveals

TLDR Gold accounted for 27% of global central bank reserves at the end of 2025. US Treasuries fell to 22% of total official reserves, according to the ECB report. The ECB linked the shift mainly to gold’s sharp price rally in 2024 and 2025. Sanctions risk and geopolitical tensions pushed central banks to reassess reserve [...]

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