According to ChainCatcher, citing foreign media reports, driven by the surge in gold prices over the past year and active purchases by central banks worldwide, gold is poised to surpass US Treasury bonds to become the largest reserve asset held by US governments overseas. Data released this month by the World Gold Council shows that the total amount of official US gold reserves held globally exceeds 900 million troy ounces (data for most countries is current as of November, while data for a few countries is current as of October).
Based on the gold price on November 30, this is equivalent to $3.82 trillion in gold. In comparison, as of October, the value of long-term and short-term U.S. Treasury bonds held by foreign governments was close to $3.88 trillion. Assuming the central bank's gold reserves remain unchanged by the end of the year, at year-end prices, the value of the U.S.'s official global gold reserves held overseas would be $3.93 trillion, exceeding the size of the U.S. Treasury bonds held by foreign governments.
