For the first time since the mid-1990s, foreign central banks have held more gold than US treasuries. This milestone shows a significant shift in how global power views safety, liquidity, and trust.
Beyond a market event, the quiet rotation from paper to metal marks a potential turning point in the architecture of global finance.
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Gold Overtakes US Treasuries for the First Time in 30 Years
Data shared by Barchart confirmed the crossover, with central banks continuing their record-breaking gold buying streak into 2025.
According to the World Gold Council, central banks purchased a net 19 tonnes in August alone, after adding 10 tonnes in July. With this, they set the year on track for roughly 900 tonnes in total. It would mark the fourth consecutive year that global purchases exceed twice the long-term average.
The Kobeissi Letter noted that central banks have bought gold for 16 years. This is the longest streak on record…
