New Delhi, Aug 31 For the first time in over three decades, central banks around the world are holding more gold than US government bonds. This marks a major shift in how countries manage their reserves.
Traditionally, most nations kept their “treasure chest” of reserves filled with US dollars, some euros, and American government bonds, known as Treasuries, along with a smaller share of gold. But now, gold has taken the lead.
According to the European Central Bank’s ‘International Role of the Euro 2025’ report, central banks collectively hold around 36,000 tonnes of gold.
At current prices, this stockpile is worth over 3.6 trillion dollars. That is more than the 3.8 trillion dollars they hold in US Treasuries, based on the US Treasury’s June 2024 survey.
The change has been driven largely by gold prices, which have soared above 3,500 dollars an ounce this year, according to Reuters data.
The big question is why central banks are…
