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中文(ZH) 央行购金托底,黄金坐上储备资产“头把交椅”

Gold overtakes US Treasuries as top global reserve asset

Gold has surpassed US Treasury bonds as the top global reserve asset, with its share in official reserves reaching 27% by the end of 2025, according to the European Central Bank. This shift, ending the long-standing dominance of dollar-denominated assets since the Bretton Woods system, is attributed to rising gold prices, continuous central bank purchases, diversification efforts, and concerns over the safety of US assets. Future gold price movements will be influenced by central bank buying, but also by the US dollar's trajectory, Treasury yields, inflation, geopolitical risks, and investment demand. AI

RANK_REASON Report on a shift in global reserve asset composition based on central bank data. [lever_c_demoted from research: ic=1 ai=0.0]

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Gold overtakes US Treasuries as top global reserve asset

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Report on a shift in global reserve asset composition based on central bank data. [lever_c_demoted from research: ic=1 ai=0.0]
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  1. 36氪 (36Kr) TIER_1 中文(ZH) ·

    Central bank gold purchases provide a floor, gold takes the top spot in reserve assets

    黄金超越美债,成为全球官方储备第一大资产。日前,欧洲中央银行最新发布的报告显示,截至2025年年底,黄金在全球官方储备资产中的占比升至27%,超过美债的22%。 自布雷顿森林体系解体以来,美元资产长期占据全球官方储备资产的首位。业内人士认为,黄金“上位”并非偶然,其背后既有金价大涨带来的估值效应,也有全球央行持续购金、储备资产多元化以及市场对美元资产安全性担忧升温等深层因素。展望后市,央行购金仍将为金价提供底部支撑,但美元走势、美债收益率、通胀压力、地缘局势风险和投资需求变化,将共同决定金价下一阶段的走势方向。(中证网)