Gold Just Overtook Treasuries In Central Bank Reserves

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An ECB review cited in the video says gold accounted for 27% of global official reserves by end-2025, overtaking U.S. Treasuries at 22% for the first time in the modern era. The takeaway is structurally bullish for gold: central banks have moved from a marginal buyer base to the dominant reserve allocator, reinforcing gold’s role as a core reserve asset rather than just a tactical hedge.

The clip frames the shift as part of a broader de-dollarisation and reserve diversification trend, with gold benefiting from persistent official-sector accumulation. While no additional flow figures are given, the headline comparison to Treasuries is notable because it implies reserve managers are prioritising non-credit reserve assets amid higher geopolitical and fiscal uncertainty.

For the desk, the key implication is that official-sector demand remains an important underpinning for dips in XAU, especially if real yields soften or USD momentum fades. Near-term, this is not a trading signal in itself, but it supports the medium-term bullish case for gold on any pullback and keeps central-bank buying as a major macro catalyst to watch in upcoming reserve-flow and WGC/ECB data releases.