Why Gold Didn't Actually Overtake Treasury Securities as the World's "Favorite" Reserve Asset - Federal Reserve (.gov)
Why Gold Didn't Actually Overtake Treasury Securities as the World's "Favorite" Reserve Asset - Federal Reserve (.gov)
Source: Federal Reserve (.gov)
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DW NOTE
The Fed published a methodological correction, not a market call. Central banks added 1,136 tonnes of gold in 2023 — the second-highest annual total on record — but that still didn't move the aggregate share enough to overtake Treasuries in global reserves. The headline was always about stock versus flow, and the flow has been emphatically toward bullion since Russia's forex reserves were frozen in 2022.