Investing legend David Einhorn says gold is replacing US Treasurys as a global reserve asset

Thomson Reuters

• Gold has begun to replace US Treasurys as the top asset held by central banks, David Einhorn said.
• The hedge fund titan pointed to recent reports that Chinese banks are dialing back Treasury investments.
• Central bank appetite for gold is also strong, he said, pointing to concerns about US debt and trade.

Billionaire David Einhorn thinks gold is well on its way to becoming the world's ultimate reserve asset.

The Green Light Capital founder...