US Borrowing Costs Soar Amid Record Gold Purchases by Central Banks

The US Treasury yield reached its highest point since 2007 at 5.18% on September 24, 2026, as central banks continued to buy gold in record amounts.

In the second quarter of 2026, central banks purchased a new high of 288.9 tonnes of gold, according to the World Gold Council.

The US dollar's share of global currency reserves dropped from 57.13% to an estimated lower percentage within five years, as expected by 74% of surveyed central banks.

The increasing cost of borrowing for Washington has raised concerns about its reserve status and gold prices.