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U.S. Gold Reserves Top $1 Trillion as Prices Hit Record Highs

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The U.S. Treasury’s gold reserves have surpassed $1 trillion in market value after gold prices reached new record highs, though official government accounts continue to value the holdings at just over $11 billion under a decades-old standard.

  • Gold prices rose above $3,824.50 an ounce on Monday, a 45% increase this year.
  • The Treasury holds about 261.5 million ounces of gold, officially valued at $42.22 per ounce since 1973.
  • At current prices, the stash is worth more than 90 times its stated balance sheet value.
  • Speculation earlier this year suggested the U.S. might mark reserves to market, but Treasury Secretary Scott Bessent dismissed the idea.
  • About half the reserves are stored at Fort Knox, with the rest split between West Point, Denver, and a vault beneath the New York Fed.
  • Investors have fueled the rally through ETF inflows and expectations of looser Fed policy amid trade and geopolitical tensions.
  • The reserves’ updated value would cover roughly half of the U.S.’s $1.97 trillion budget deficit through August.

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Editor’s Note: This is a developing story. This article may be updated as more details become available.

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