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Gold overtakes euro as global reserve asset, ECB says
By Olaf Storbeck and Leslie Hook
Financial Times, London
Wednesday, June 11, 2025
Gold has overtaken the euro as the world's second most important reserve asset for central banks, driven by record purchases and soaring prices, according to the European Central Bank.
Bullion accounted for 20% of global official reserves last year, outstripping the euro's 16% and second only to the U.S. dollar at 46%, data from an ECB report published today showed.
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"Central banks continued to accumulate gold at a record pace," the ECB wrote, adding that central banks for the third year in a row acquired more than 1,000 tonnes of gold in 2024, a fifth of the total global annual production and twice the annual amount in the decade of the 2010s. ...
Central bank gold reserves, which peaked at 38,000 tonnes in the mid-1960s, rose again to reach 36,000 tonnes in 2024, according to the latest ECB numbers. "Central banks worldwide now hold almost as much gold as they did in 1965," the ECB report said. ...
For the remainder of the report:
https://www.ft.com/content/0d175cad-db7c-4dc2-83a8-90736f96f198
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