# Central Bank Digital Currency

The Hormuz Paradox: Why Beijing is Doubling Down on Gold Amid Global Volatility

While the blockade of the Strait of Hormuz and resulting Fed hawkishness have caused short-term gold price drops, the People’s Bank of China and other central banks are buying at record levels. Gold has now overtaken US Treasuries as the world's leading reserve asset, driven by de-dollarization and geopolitical risk hedging.