For the first time since the mid-1990s, foreign central banks now hold more gold than US Treasuries, marking a significant shift in global financial strategies. According to data from Barchart, central banks have been on a record-breaking gold buying spree, purchasing a net 19 tonnes in August 2025 alone. This trend is set to continue, with projections indicating that global gold purchases could reach 900 tonnes this year, marking the fourth consecutive year of such high acquisition levels. The World Gold Council reports that central banks have been net buyers of gold for 16 years, reversing a previous trend of net selling. This shift is attributed to a loss of confidence in US Treasuries amid political and economic uncertainties. Analysts suggest that gold is increasingly seen as a "pristine collateral" and a safe haven asset, as traditional currencies lose value against it. Meanwhile, the cryptocurrency market is also gaining attention, with Bitcoin showing resilience and potential as an alternative asset class.