Gold Surpasses US Dollar, Becomes World’s Largest Reserve Asset: Central Banks Now Hold $6 Trillion Worth 36,000 Tonnes Of Gold, Yellow Metal Leads After 30 Years
Gold is no longer a safe-haven investment only. It has become the world’s largest reserve asset. According to a report by Phemex, gold has surpassed the US dollar. According to reports, Central banks hold about 36,000 tonnes of gold, valued at roughly $6 trillion. This amount exceeds the $3.9 trillion that US Treasuries own. The numbers were cited in several reports quoting the World Gold Council and US Treasury data through late 2025. This is the first time gold has surpassed the dollar as a reserve asset in nearly 30 years.
This growth is fueled by over 1,000 tonnes bought annually for three years by nations like China, India, Russia, Turkey, Poland, and other BRICS countries.
Why Has Gold Surpassed US Dollar? Central Banks Lead The Surge In Demand
Gold’s long-term value is rooted in its independence from any single government or monetary authority. This autonomy makes it a dependable hedge during political or economic volatility. When the world is facing heightened uncertainty and global markets are witnessing decline, gold has evolved as a preferred reserve asset.
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According to reports, institutional investors and central banks have historically increased gold purchases during crises, and 2025–2026 has followed that pattern.
Through the first three quarters of the year, global central bank gold reserves rose by roughly 15% compared with 2024 levels. Major buyers included countries such as China, India, Turkey, and several Middle Eastern nations.
How The De-Dollarization Call Is Driving Gold Accumulation
Emerging economies are playing a significant role in the surge in gold demand. Many of these countries are actively reducing reliance on US dollar reserves. This process is often referred to as de-dollarization, as countries are turning to gold as a politically neutral store of value.
Ongoing discussions around a potential alternative currency framework within BRICS have further increased gold’s importance. Analysts suggest the metal could play a central role in any future global monetary arrangements that aim to reduce dependence on the US dollar.
BREAKING:
Gold has officially surpassed the US dollar and now becomes the world’s leading reserve asset.
Central banks are increasingly buying gold for stability, with China and India leading the shift as they reduce their reliance on the US dollar. pic.twitter.com/TAsVyCHlF2
— Current Report (@Currentreport1) February 24, 2026
Historically, gold prices and the US dollar tend to move in opposite directions.
Market analysts say that a stronger US dollar will suppress the price of gold, while a weaker US dollar will likely drive the price of gold higher through increased demand. That is what is hapening currently as gold surpasses dollar.
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Zubair Amin is a Senior Journalist at NewsX with over seven years of experience in reporting and editorial work. He has written for leading national and international publications, including Foreign Policy Magazine, Al Jazeera, The Economic Times, The Indian Express, The Wire, Article 14, Mongabay, News9, among others. His primary focus is on international affairs, with a strong interest in US politics and policy. He also writes on West Asia, Indian polity, and constitutional issues. Zubair tweets at zubaiyr.amin
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