Gold has overtaken the US dollar to become the world’s largest global reserve asset for the first time in nearly 30 years. As of early 2026, central banks around the world held about $4 trillion worth of gold, slightly more than the roughly $3.9 trillion worth of US Treasury securities.
Gold prices saw a significant increase during 2025. In January 2026, the price of gold exceeded $4,500 per ounce and later rose above $5,300. Several countries, including China, India, and Poland, increased their gold reserves to diversify their assets and reduce their dependence on the dollar.

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