Gold rises to $4,522 as ECB notes reserve shift

MSN
2026.06.02 18:01
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Gold prices rose to $4,522 as ECB data revealed a historic shift: gold now constitutes 27% of central bank reserves, surpassing U.S. Treasuries for the first time in three decades. This diversification away from dollar assets follows the 2022 freezing of Russian reserves. Market gains were driven by safe-haven demand, a weaker dollar, and lower bond yields.