Gold becomes the world's second largest reserve asset, with central bank reserves surpassing U.S. Treasury bonds
Jinse Finance reported that Reuters analyst Jamie McGeever recently wrote that the proportion of gold in central bank reserves appears to be on an unstoppable rise. He pointed out that concerns over inflation, the deterioration of US fiscal health, debates over the independence of the Federal Reserve, and geopolitical turmoil are prompting the market to question the stability of the "traditionally safest global asset"—long-term US Treasury bonds. In response, many central banks are turning back to gold, and gold has now surpassed the euro to become the world's second-largest reserve asset after the US dollar. At the same time, the proportion of gold in central bank reserves has, for the first time since 1996, exceeded that of US Treasury bonds.
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