[European Central Bank Report: Gold Has Replaced U.S. Treasuries as the World's Preferred Reserve Asset] Jin10 News, June 2 – According to the Financial Times, gold has surpassed U.S. government bonds to become the world's largest reserve asset. A report released by the European Central Bank on Tuesday indicates that by the end of 2025, gold will account for 27% of global central bank reserve assets, up from 20% a year earlier. During the same period, the share of U.S. Treasuries dropped from 25% to 22%. The proportion of euro-denominated reserve assets remained unchanged at 15%. Reserve assets are highly liquid assets held by central banks to support their domestic currency exchange rates, fulfill international payment obligations, and provide liquidity support during financial turbulence. This shift in composition reflects the efforts of many countries to seek alternatives to the U.S. dollar—the de facto global reserve currency. Since 2022, when the U.S. used sanctions to freeze dollar reserves due to the Russia-Ukraine conflict, the push for alternatives has significantly accelerated. European Central Bank President Christine Lagarde wrote in Tuesday's report: 'Geopolitical tensions continue to drive strong demand for gold among central banks.'