Business News of Tuesday, 24 February 2026Source: www.ghanaweb.comGold has surpassed the US dollar to become the world’s largest global reserve asset. Gold breaks $5,300 mark for the first timeThe change in reserve asset rankings reflects broader trends in global finance, where traditional currencies face increasing competition from alternative assets. Global central bank gold reserves rose by roughly 15 percent compared to 2024, with major buyers including China, India, Turkey, and several Middle Eastern countries. For the first time since 1996, foreign central banks now hold more gold than US Treasuries in their reserves, marking a turning point in global reserve management. The largest producers of gold are China, Australia, the United States, South Africa, Peru, Russia, and Indonesia, while the biggest consumers of gold jewelry are India, China, Turkey, the United States, Saudi Arabia, Russia, and the UAE.

Source: GhanaWeb February 24, 2026 11:34 UTC