BREAKING: Gold has officially overtaken US Treasuries in central bank FX reserves for the first time in at least 20 years. Global official gold holdings at market price are up to $5.0 trillion, surpassing foreign official Treasury holdings of $3.9 trillion. Gold holdings have TRIPLED since Q4 2019, driven by aggressive purchases by central banks and rising prices. Over this period, central banks have added ~4,500 tonnes of gold, including unreported purchases. At the same time, foreign Treasury holdings have remained unchanged. Gold is redefining the global monetary system.(The Kobeissi Letter)