Gold has overtaken US Treasuries to become the world’s top reserve asset, signalling a major shift in the global financial landscape as central banks continue to increase their holdings of the precious metal amid geopolitical uncertainty, according to a new report by the European Central Bank (ECB). The ECB, in its June 2026 report titled ‘The International Role of the Euro,’ said the share of gold in total official reserves—comprising both foreign exchange and gold holdings—climbed to 27 per cent by the end of 2025. This pushed gold ahead of US Treasuries, which accounted for 22 per cent of official reserves, and ... (full story)