Central Banks Raise Gold Share of Reserves to 27 Percent
Central banks now hold 27 percent of their reserves in gold, surpassing U.S. government securities for the first time in years. The shift follows sustained purchases and a near-doubling of bullion prices since 2022.
ibtimes.co.ukCentral banks now allocate 27 percent of their reserves to gold, according to ECB data released this week. The increase follows a sustained period of purchases by multiple institutions seeking to diversify away from dollar assets.
The ECB attributed the change to a historic rally in bullion prices that lifted gold's share above that of U.S. government securities. Officials noted that diversification has accelerated since 2022 as institutions reduced exposure to any single currency.
The same report showed continued net purchases of gold by central banks in both advanced and emerging economies. No specific purchase volumes were released in the initial statement.
Gold prices have risen sharply over the past three years, supported by steady official-sector buying. The ECB statement did not forecast future price movements or policy responses. Market participants will watch upcoming central bank surveys for additional detail on allocation plans.
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