Surpassing US debt, gold has become the world's largest official reserve asset.

The European Central Bank released a report on the 2nd, stating that by the end of 2025, the proportion of gold in the total global official reserve assets has risen to 27%, surpassing US Treasury bonds, becoming the largest asset in the global official reserves. The report points out that the proportion of US Treasury bonds in global official reserve assets has fallen to 22%, other reserve assets denominated in US dollars account for 20%, and Euro-denominated reserve assets account for 15%. The report believes that the significant increase in the proportion of gold reserves is primarily attributable to valuation effects. Thanks to the sharp rise in international gold prices in 2024 and 2025, the value of gold assets has soared, thus gaining a larger share in the global official reserves. The survey data listed in the report shows that despite the high price of gold, the amount of gold purchases by central banks around the world in 2025 remains at a high level. The European Central Bank stated that as geopolitical risks rise, central banks around the world are buying gold to strengthen the resilience of their balance sheets, not only for asset diversification, but also to hedge against geopolitical risks. This article is reproduced from Xinhua News Agency, GMTEight editor: Chen Wenfang.