Gold is on track to overtake US Treasury bonds as the largest official reserve asset held by US governments overseas, driven by rising gold prices and increased central bank purchases. According to the World Gold Council, the total overseas US gold reserves exceed 900 million troy ounces, valued at $3.82 trillion as of November 30th. In comparison, US Treasury bonds held overseas were valued at approximately $3.88 trillion in October. If current trends continue, the value of US gold reserves could reach $3.93 trillion by year-end, surpassing Treasury bonds.