Gold Has Overtaken the U.S. Dollar in Central Bank Reserves

the first time since 1996, foreign central banks now hold more gold than U.S. Treasuries (U.S. debt) in their reserves, marking a historic turning point in global reserve management. Data published by Visual Capitalist reveals that, in the course of 2025, the share of gold in central bank reserves surpassed that of U.S. debt holdings, a trend driven by rising geopolitical uncertainty and a quest for asset diversification. Between 2021 and 2025, central banks - particularly in emerging markets like China, India and Turkey - significantly increased their gold holdings. This move reflects a broader strategy to reduce reliance on...