A historic moment: Central bank gold reserves are valued higher than US Treasury bonds.

According to data released this month by the World Gold Council, official U.S. overseas gold holdings now total over 900 million troy ounces. This data, sourced from the International Monetary Fund (IMF), primarily reflects the situation up to the end of November, with some countries' data up to October. Based on gold prices on November 30th, this gold is worth $3.82 trillion. In comparison, as of October, the total value of long- and short-term U.S. Treasury bonds held by governments other than the U.S. was approximately $3.88 trillion. If calculated at year-end prices and assuming non-U.S. central banks do not reduce their gold holdings, the estimated value of gold reserves held by non-U.S. central banks will be approximately $3.93 trillion by the end of 2025. This means that gold reserves have officially surpassed U.S. Treasury bond holdings. (Golden Ten)