Gold has surpassed U.S. debt to become the primary reserve asset for central banks worldwide. The share of gold in reserves has risen to 27% as central banks diversify away from the dollar. Major central banks, including the People's Bank of China and the Reserve Bank of India, have increased their gold purchases. Meanwhile, the share of U.S. Treasuries has dropped to 22%. Gold prices rose, reaching $4,461.09 an ounce.
