In 2025, gold overtook US government bonds as the world's second-largest reserve asset.
Gold is now 27% of central-bank reserves, up from 20% a year ago. US Treasuries fell to 22%.
The trigger was 2022: Western governments froze half of Russia's reserves. Gold is the one reserve nobody can switch off.
89% of reserve managers expect gold holdings to keep rising. 74% expect the dollar lower in five years.
#GoldReserves #CentralBanks #Markets
https://youtu.be/GBq2-j3HgcA




