Foreign media: Gold may have surpassed U.S. debt to become the largest asset in official reserves

PANews, January 7, according to foreign media reports, driven by the surge in gold prices over the past year and active purchases by central banks around the world, gold is expected to surpass U.S. Treasury bonds and become the largest reserve asset held by the U.S. overseas government. According to data released by the World Gold Council this month, the total overseas official global gold reserves of the United States exceed 900 million troy ounces (data statistics for most countries are as of November, and a few countries are as of October). At the gold price on November 30, this is equivalent to $3.82 trillion in gold. By comparison, as of October, the value of long-term and short-term Treasury debt held by U.S. overseas governments was nearly $3.88 trillion. Assuming that the size of the gold reserves held by the central bank remains unchanged by the end of the year, calculated based on year-end prices, the value of the United States' overseas global official gold reserves is US$3.93 trillion, which has exceeded the scale of U.S. debt held by overseas officials.

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