Let’s explore why central bankers’ top reserve asset is not US debt anymore

Globally, central banks now hold 27% of their reserve assets in gold, surpassing US dollar Treasuries at 22%, and just a year ago this was 20% gold versus 25% Treasuries, according to the latest report by the European Central Bank. In 2023, gold’s share was just 16%. Since the Russia-Ukraine war in 2022, China has […] By Nandita Lal