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Gold replaces US Treasuries as top reserve asset, ECB says

31 points by petethomas

by andsoitis

2 subcomments

Dual reason: partly accumulation, partly mark-to-market.
Central banks have been buying gold aggressively since 2022 as a response to USD reserve weaponization, and gold has rallied 70% in that window.
The headline can be erroneously interpreted as de-dollarisarion.

by hnburnsy

0 subcomment

>The move was driven by valuation effects - gold purchases actually slowed down last year, but prices (GC00) surged. Using 2023 prices, Treasurys would still be the top holding, at 26% vs. 16% for gold, the ECB said

by karp773

0 subcomment

Gold is back in vogue. Look at the White House, for example. All gold and glitter. Of course, others are trying to immitate the style, hence the demand for gold.

by burnt-resistor

0 subcomment

Unpaywalled: https://archive.is/YvcCI
Also, it'd be interesting to know how many and how much $ is going into currency swap lines to avoid bond dumps and keep yields under control.