US Gold Reserves Worth Nearly $1 Trillion In Value After Gold Prices Hit Another Record High

The U.S. government holds its gold directly, while the Federal Reserve maintains gold certificates representing the Treasury’s holdings and credits dollars accordingly.

U.S. gold reserves reportedly hit nearly $1 trillion in value after gold prices hit a record high in early morning trade on Monday. 

Gold prices hit an intra-day high of $3,831.34 an ounce in early morning trade, according to TradingView data. According to a Bloomberg report, this puts the government’s reserves – the value of which is based on the $42.22 per ounce price set by Congress in 1973 – at just over $11 billion. Adjusting the reserves’ value to today’s market prices would amount to nearly $990 billion.

Unlike many countries, the U.S. government holds its gold directly, while the Federal Reserve maintains gold certificates representing the Treasury’s holdings and credits dollars accordingly. 

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