According to Bank of America, gold has overtaken the euro to become the world’s second-largest central bank reserve asset. With the central bank gold buying spree over the last several years, along with the rapid rise in price in 2024, the yellow metal now makes up about 16 percent of total reserve assets, just ahead of the euro. The dollar’s share of reserves has dropped to 58 percent. There appears to be a movement to replace fiat currencies, including the dollar, with gold, especially in emerging market countries in the East. Central banks globally added a net 483 tons of...