By Joe Wallace

27 %

That was the share of gold in foreign reserves held by central banks around the world at the end of 2025, according to the European Central Bank. Gold's share surpassed that of U.S. Treasurys, 22%, and the euro's slice of the pie, 15%. Other dollar-based reserves accounted for 20%.

It rose from 20% a year earlier, largely because of surging gold prices, not bullion purchases by central banks. After years of rampant buying, their appetite for adding to gold holdings waned as the precious metal became more expensive (the price of gold has gone up by more than a third over the past 12 months).

Some have been cutting back. Early this year, Turkey sold or loaned a huge amount of gold to defend its currency after the U.S. and Israel attacked Iran, the ECB said.

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June 02, 2026 10:59 ET (14:59 GMT)

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