CoinVoice Latest Update: According to foreign media reports, driven by gold prices surging over the past year and active purchases by central banks worldwide, gold is expected to surpass U.S. Treasury bonds as the largest reserve asset held by overseas governments in the U.S. According to data released this month by the World Gold Council, the total global official gold reserves held overseas by the U.S. exceed 900 million troy ounces (data for most countries is as of the end of November, and for a small number of countries as of the end of October).
Calculated at the gold price on November 30, this equates to $3.82 trillion in gold. In comparison, as of October, the value of long-term and short-term U.S. Treasury bonds held by overseas governments reached close to $3.88 trillion. Assuming central banks’ gold reserves remain unchanged by year-end and calculated at year-end prices, the global official gold reserves held overseas by the U.S. would be valued at $3.93 trillion, already surpassing the scale of U.S. Treasury bonds held by overseas official entities.
Foreign Media: Gold May Have Surpassed US Treasuries to Become the Top Official Reserve Asset
CoinVoice Latest Update: According to foreign media reports, driven by gold prices surging over the past year and active purchases by central banks worldwide, gold is expected to surpass U.S. Treasury bonds as the largest reserve asset held by overseas governments in the U.S. According to data released this month by the World Gold Council, the total global official gold reserves held overseas by the U.S. exceed 900 million troy ounces (data for most countries is as of the end of November, and for a small number of countries as of the end of October).
Calculated at the gold price on November 30, this equates to $3.82 trillion in gold. In comparison, as of October, the value of long-term and short-term U.S. Treasury bonds held by overseas governments reached close to $3.88 trillion. Assuming central banks’ gold reserves remain unchanged by year-end and calculated at year-end prices, the global official gold reserves held overseas by the U.S. would be valued at $3.93 trillion, already surpassing the scale of U.S. Treasury bonds held by overseas official entities.