Mumbai, June 4 -- Gold has officially overtaken U.S. Treasuries as the world's largest central bank reserve asset, accounting for roughly 27% of global official reserves, according to a report by European Central Bank. The share of gold now surpasses both that of the euro (15%) and US Treasuries (22%). However, this development largely reflects valuation effects, it noted. In nominal terms, the gold price surged by around 60% and 30% in 2025 and 2024 respectively, which mechanically increases the share of gold in total official foreign reserves. Correcting for such valuation effects by using the gold price at the end of 2023, the share of the euro (16%) remains at par with the share of gold (16%), while the share of US Treasuries continues ...