
Central Bank Gold Holdings Top $4 Trillion, Overtaking US Treasuries for First Time
Central banks worldwide held roughly $4 trillion in gold at the start of 2026, exceeding their $3.9 trillion in US Treasury holdings — a first in modern monetary history. The shift traces directly to the 2022 freeze of Russian foreign exchange reserves, which exposed the political risk embedded in foreign-held assets. Structural demand for physical gold is now reshaping global reserve strategy from Beijing to Frankfurt.


















