Gold Surpasses Euro as Second-Largest Reserve Asset Globally
In response to rising global trade tensions and market instability, central banks have significantly increased their gold reserves.
According to a new report from the European Central Bank (ECB), gold now ranks as the second-largest reserve asset worldwide, overtaking the euro.
In 2024 alone, central banks acquired over 1,000 tonnes of gold—twice the average annual purchase over the past ten years. The rapid accumulation reflects a global push to strengthen financial resilience amid uncertainty.
Gold’s Share in Reserves Reaches 20 Percent
A sharp rise in gold prices has further boosted its role in global reserves. As of Wednesday morning, gold was trading at approximately $3,330 per ounce at the time of writing. That price surge helped push gold’s share of international foreign reserves to around 20 percent, up from 16 percent for the euro.
The ECB report highlights a clear shift in reserve strategy as institutions seek safe-haven assets in an increasingly volatile economic environment.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
