It is classified as Tier I asset and can be counted as CB’s reserve along with Dollar.
This is news to me.

All CB’s are buying gold except US has sold out its gold.
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Gold Has Become Money Again
Fittingly, gold is an alternative to the dollar. In the past, it has been a protector or hedge against
the debasement of currency, because it is less susceptible to government manipulation. Last year,
central banks purchased a near record 23 million ounces, becoming the world’s largest buyer,
adding to their reserves at the highest pace in 50 years. Central banks keep dollars in reserve but
under the new Basel III standard, gold has taken on more importance and can be today valued the
same as dollars. Basel III returns gold as a meaningful reserve asset whereby, gold is now risk
weighted as a Tier I asset as part of total reserves. Thus, gold reserves held on central banks’
balance sheet can be valued at 100 percent allowing them to increase their liquidity and revalue
their balance sheets upward. Gold has become money again.

https://www.gold-eagle.com/article/sprout-less-gold-now-tier-1-capital