European Central Bank: Gold Has Replaced US Treasuries as the World’s Top Reserve Asset
Gold has overtaken US Treasuries as the world’s leading reserve asset, according to a new European Central Bank report, marking a striking shift in the global financial order and a warning signal for the US dollar. By the end of 2025, gold accounted for 27% of global central bank reserve assets, up sharply from 20% the previous year. U.S. Treasury bonds, long treated as the