For First Time in Nearly 30 Years, Foreign Central Banks Hold More Gold Than U.S. Treasuries

For the first time since 1996, foreign central banks hold more gold than U.S. Treasuries as the world continues to de-dollarize. Crescat Capital macro strategist Tavi Costa highlighted the crossover moment in a post on X, saying it is “likely the beginning of the most significant global rebalancings we've experienced in recent history.” Central banks have been aggressively adding gold to their reserves over the last three years. Last year was the third-largest expansion of central bank gold reserves on record, coming in just 6.2 tonnes lower than in 2023 and 91 tonnes lower than the all-time high set in...