For the first time since 1996, the world's central banks hold more gold than US Treasuries. This is not a forecast. It has already happened.
By Kane White, Founder, Britannia Bullion
Read that line again. The institutions that manage the reserves of entire nations have quietly moved more of their wealth into gold than into the bonds of the most powerful government on earth.
The European Central Bank confirmed it on 2 June 2026. Gold now makes up 27% of global official reserves. US Treasuries have slipped to 22%. Twelve months earlier it was the other way round (gold 20%, Treasuries 25%). The ranking flipped in a single year.
https://www.ecb.europa.eu/press/other-publications/ire/html/ecb.ire202606.en.html
https://www.ecb.europa.eu/press/pr/date/2026/html/ecb.pr260602~f941e87516.en.html
This did not come from nowhere. Central banks have been loading up on gold since 2022, after Russia's reserves were frozen overnight. They all saw the same thing. Reserve access can be weaponised. So they hedged into the one asset no government can freeze, sanction or print.
The buying backs it up. Central banks bought over 1,000 tonnes of gold every single year from 2022 to 2024, then another 850 tonnes in 2025. China alone has added more than 350 tonnes since early 2022. Poland, Kazakhstan, Brazil and Turkey were among the biggest buyers last year.
Now, in fairness, part of this shift is price. Gold ran up roughly 60% in 2025 on top of 30% the year before, which lifted the value of what these banks already held. The ECB has said as much. But the buying is real, it has been relentless for four years, and the people doing it have far better information than you or I do.
The smartest money on earth is buying gold. And they are nowhere near done.
When the central banks themselves stop trusting paper promises and reach for the metal, that tells you something. They are not chasing a trade. They are protecting the balance sheet of their country. That is the same instinct that has protected family wealth for generations.
Is now a good time to buy Gold? what do you think?
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