Chart of the week: Gold is the 2nd largest asset held in global reserves
Global central banks gold holdings as % of all reserves reached 17.60% in 2023 and are still rising
In 2023, gold share in global international reserves held by central banks exceeded Euro for the 1st time in history. Yellow metal now accounts for 17.60% of all worldwide reserves. The first place invariably takes the US dollar with a 48% share. The United States dollar has been the world's reserve currency for over 60 years.
Official world gold reserves also reached 1,170 million fine troy ounces, the highest level since the 1970s’. They are now higher than just before US President Richard Nixon broke the US Dollar's link to gold in 1971.
Why do global central banks continue stockpiling gold? The answer in the below article:
If you find it informative and helpful you may consider buying me a coffee, and following me on Twitter:
Why subscribe?