Foreign media: Gold may have surpassed U.S. Treasuries to become the largest official reserve asset

According to foreign media reports, driven by the surge in gold prices over the past year and active purchases by central banks, gold is expected to surpass U.S. Treasury bonds to become the largest reserve asset held by foreign governments in the U.S. According to data released by the World Gold Council this month, the total global official gold reserves held overseas by the U.S. exceed 900 million troy ounces (most countries' data is as of the end of November, while a few countries' data is as of the end of October).

Based on the gold price on November 30, this amounts 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 foreign governments was close to $3.88 trillion. Assuming that the gold reserves held by central banks remain unchanged by the end of the year, the value of the U.S. overseas global official gold reserves would be $3.93 trillion at year-end prices, already surpassing the scale of U.S. Treasury bonds held overseas.