US Gold Reserves Exceed Historic Threshold
Gold prices have risen to $3,824.50 per ounce, showing a 45 percent increase this year. With this surge, US gold reserves have surpassed a critical milestone, exceeding $1 trillion.
Investors Seek Safe Haven
Throughout 2023, bullion has gained value as investors sought a safe haven due to the impact of trade wars and geopolitical tensions. Furthermore, growing concerns about a potential funding crisis are among other factors driving up gold prices. This increase is supported by rising inflows into exchange-traded funds and the US Federal Reserve (Fed)'s renewed start of interest rate cuts.
US Government and Gold Reserves
Unlike most countries, the US's gold reserves are held directly by the government. The Fed holds gold certificates equivalent to the value of gold held by the Treasury, transferring dollars to the government in return. Updating the value of reserves at today's prices means approximately $990 billion entering the Treasury's coffers.
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US gold reserves, gold prices, Treasury Department, Fed interest rate cuts, investment security
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