Key facts
- Alphabet shares fell following an $80 billion share sale announcement.
- Gold has become the world's top reserve asset, surpassing US Treasuries.
Alphabet shares dropped after an $80 billion share sale announcement. Meanwhile, gold has surpassed US government bonds as the world's top reserve asset, holding 27% of official foreign reserves by the end of 2025, according to ECB calculations. This surge is driven by geopolitical tensions and strong central bank demand for gold.
The shift in reserve asset status from US Treasuries to gold signals a potential rebalancing of global financial power and a response to geopolitical instability, while Alphabet's share sale raises questions about its capital allocation strategy and future investments.
Alphabet's stock experienced a decline subsequent to the announcement of an $80 billion share sale. In a significant shift in global finance, gold has now overtaken US government bonds as the primary reserve asset. Calculations from the European Central Bank indicate that by the close of 2025, gold represented 27% of total official foreign reserves, exceeding US Treasuries (22%) and the euro (15%). This development is attributed to increasing geopolitical fragmentation and sustained central bank demand for gold, which has seen its price surge by approximately 60% in 2025 and 30% in 2024.
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