A steep drop in crude oil prices countered expectations of a hawkish Fed, supporting US Treasuries despite strong GDP and inflation data, with the 10-year yield falling below 4.4% and TLT ETF gaining.
As of the end of 2025, gold accounted for 27% of global official reserves, surpassing US Treasuries by 5 percentage points. Despite price volatility, central banks increased holdings by 244 tons in Q1 2025, signaling continued demand.
Gold has overtaken US Treasuries as the world's largest central bank reserve asset, accounting for 27% of global reserves by the end of last year, according to an ECB report. This shift is attributed to sustained central bank gold purchases and a near doubling of gold prices.
Central banks are increasing their gold holdings, with China being the largest buyer since early 2022. Gold's share in global foreign reserves surpassed US Treasuries and the euro in 2025, driven by valuation effects and a desire for diversification and geopolitical risk hedging.
The ECB reports that gold's share in central bank foreign reserves will exceed US Treasuries by end-2025, marking a significant shift after nearly 30 years. This trend is driven by emerging economies like China and India increasing gold purchases amid rising geopolitical risks.
Gold has overtaken US Treasuries as the world's primary reserve asset, with central banks' holdings reaching 27% of total reserves by end-2025, up from 20% a year prior. US Treasuries fell to 22% from 25%. This shift is driven by a historic gold price rally and central banks seeking alternatives to the dollar.
Global investors are weighing inflation pressures and geopolitical risks against the US dollar's liquidity and lack of alternatives for capital flows. Japan reduced its Treasury holdings in March, while the UK increased theirs.
Tether (USDT), the world's largest stablecoin issuer, reported $1.04 billion in net profit for Q1 2026 with record excess reserves of $8.23 billion. The company holds $141 billion in US Treasuries exposure, making it the 17th largest holder globally. Reserves also include $20 billion in physical gold and $7 billion in Bitcoin. USDT circulating supply stands at $183 billion with user base reaching 570 million, driven by demand for digital dollars in emerging markets.
Tehran is fighting a new price signal in public Mohammad Bagher Ghalibaf chose a strange phrase for a dangerous moment. In the middle of a live crisis around the Strait of Hormuz, Iran’s parliament speaker mocked “vibe-trading digital oil” and took a swipe at US Treasuries as well, turning a market argument into part of […] The post Crypto trading joins wartime propaganda as “digital oil” called out amid volatile US-Iran ceasefire trading appeared first on CryptoSlate.
Iran's parliament speaker Mohammad Bagher Ghalibaf has publicly attacked 'digital oil' trading, highlighting how crypto-native platforms are increasingly shaping market sentiment during geopolitical conflicts when traditional exchanges are closed.
