Gold has become the world's leading reserve asset, surpassing U.S. Treasury bonds, according to a European Central Bank (ECB) report. As of the end of 2025, gold constituted 27% of central banks' global reserve assets, up from 20% the previous year. Meanwhile, the share of U.S. Treasury securities declined from 25% to 22%. The proportion of euro-denominated reserve assets remained steady at 15%.
Gold Overtakes U.S. Treasury Bonds as Top Global Reserve Asset
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