US gold reserves projected at $1 trillion market value amid revaluation controversy
- 1The US gold reserves stand at approximately 261.5 million ounces.
- 2The US has maintained an official gold price of $42.22 per ounce since 1973, recording a book value exceeding $11 billion.
- 3Jurrien Timmer, Director at Fidelity Investments, warned that an attempt by the Treasury to revalue gold at market prices could have significant adverse effects.
So what's the key point?
The value of the gold held by the US is much higher than its recorded book value. There are warnings that if the Treasury recalculates this value using current market prices, it could cause major side effects.
Source Fortune · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.