This image is an infographic titled "Banks' Gold Holdings as a % International Reserves" with a secondary title "Gold vs U.S. Treasuries." It visually represents a major shift in foreign central bank reserves.

The main takeaway is that for the first time since 1996, foreign central banks now hold a greater share of gold in their reserves than U.S. Treasuries. A large, bold "60%" indicates the current portion of reserves held as gold, while a smaller "48%" shows the portion held as U.S. Treasuries.

The graphic explains this shift by citing U.S. debt concerns and geopolitical risks that have weakened confidence in the U.S. dollar. For context, it also includes historical data points from the year 2000, showing that back then, U.S. Treasuries made up 40% of reserves compared to gold's 13%. It notes that after the gold standard ended, factors like high U.S. interest rates, falling gold prices, and the petrodollar system previously pushed central banks toward Treasuries.

The source is credited to Tavi Costa of Crescat Capital LLC, and the infographic was created by Visual Capitalist under their "Elements" brand, with a dateline of August 27, 2025.
This image is an infographic titled "Banks' Gold Holdings as a % International Reserves" with a secondary title "Gold vs U.S. Treasuries." It visually represents a major shift in foreign central bank reserves. The main takeaway is that for the first time since 1996, foreign central banks now hold a greater share of gold in their reserves than U.S. Treasuries. A large, bold "60%" indicates the current portion of reserves held as gold, while a smaller "48%" shows the portion held as U.S. Treasuries. The graphic explains this shift by citing U.S. debt concerns and geopolitical risks that have weakened confidence in the U.S. dollar. For context, it also includes historical data points from the year 2000, showing that back then, U.S. Treasuries made up 40% of reserves compared to gold's 13%. It notes that after the gold standard ended, factors like high U.S. interest rates, falling gold prices, and the petrodollar system previously pushed central banks toward Treasuries. The source is credited to Tavi Costa of Crescat Capital LLC, and the infographic was created by Visual Capitalist under their "Elements" brand, with a dateline of August 27, 2025.