Gold surpasses euro in reserves due to high prices and strong central bank buying

From Investing.com: 2025-06-17 05:32:00

Gold surpasses the euro to become the second most significant reserve asset globally, now making up 20% of official reserves, while the dollar remains the leader at 46%. The rise in gold’s share is due to record-high prices and strong central bank buying activity.

President Trump’s 2026 budget proposal includes major cuts to non-defence discretionary spending, with the Department of Defence receiving a 13% increase to $962 billion. The Pentagon plans to allocate $175 billion towards the development of a high-cost missile defence system.

US inflation slightly cooler than expected in May, with prices rising 2.8% year-over-year, just under the projected 2.9%. S&P 500 debt at record lows, while US government debt nears highs.

Both Democratic and Republican administrations have contributed to the growth of the US national debt.

Oklo’s shares surge by 29% after being selected for a major Department of Defence contract to supply clean energy to a military base in Alaska. The company specialises in advanced nuclear technology and aims to deliver clean, safe, and affordable energy.



Read more at Investing.com: Gold Overtakes Euro in Reserves as Central Banks’ Demand Stays Strong