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Gold Surpasses U.S. Treasuries as Top Reserve Asset, Rising to 27% Share as of End-2025: ECB Report

2026-06-02 08:27:22

According to the ECB report released on Tuesday, gold surpassed U.S. Treasuries to become the world's largest reserve asset, with a share of 27% of global central bank reserves as of end-2025, up from 20% a year earlier. The share of U.S. government debt fell from 25% to 22% over the same period. ECB President Christine Lagarde noted that "geopolitical tensions continue to drive strong central bank demand for gold."

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