US gold reserves top $1T milestone for first time ever

Gold bars

The US Treasury's gold reserves have surpassed $1 trillion in value — more than 90 times what's stated on the government's balance sheet — as the precious metal breaks new all-time highs.

The world's biggest gold stash passed the milestone after prices rose above $3,820 an ounce on Monday, in a 45% rally this year.

Meanwhile, the official valuation of US reserves remains at just $42.22 per ounce, according to the price set by Congress since 1973, equivalent to $11 billion in total reserves.

Gold's record rise reflects increased investor appetite for safe havens amid trade turmoil and geopolitical tensions, along with growing concerns about a potential US government shutdown in early October, according to Bloomberg.

Speculation renewed earlier this year about the possibility of revaluing US gold reserves at the current price, before Treasury Secretary Scott Bessent denied any serious plans in this direction.