The government values 147.3 million troy ounces of gold at $6.22 billion. This figure represents the official "book value" assigned to the nation's gold reserves.
Understanding Gold Valuation
When discussing the worth of gold held by national reserves, it's important to distinguish between market value and book value. The book value is an accounting valuation set by the government, which does not necessarily reflect the fluctuating market price of gold. For the United States, the gold reserves are valued at a statutory rate.
- Book Value: This is the historical or fixed value at which an asset is carried on a government's balance sheet. For the U.S. gold reserves, this value has been established by statute.
- Market Value: This refers to the current price at which gold could be bought or sold in the open market, which varies daily based on global supply and demand.
The value of 147.3 million troy ounces of gold, as officially recorded by the U.S. government, is based on this statutory valuation. This specific quantity of gold constitutes a significant portion of the nation's strategic reserves.
The Nation's Gold Reserve
A substantial part of the nation's gold, including the 147.3 million troy ounces in question, is securely stored at the United States Bullion Depository at Fort Knox, Kentucky. This facility is renowned for safeguarding a significant portion of the U.S. gold bullion reserves.
The table below summarizes the key figures for this gold holding:
| Quantity of Gold (Troy Ounces) | Government Book Value | Primary Storage Location |
|---|---|---|
| 147.3 million | $6.22 billion | Fort Knox, Kentucky |
While the market value of gold fluctuates constantly, the government's official book value provides a consistent accounting measure for these substantial holdings. The statutory valuation has historically been much lower than market prices, serving primarily for accounting purposes rather than reflecting current investment worth. For example, the U.S. Treasury values its gold at a statutory rate of approximately $42.22 per fine troy ounce, a figure established decades ago. You can find more information on the U.S. gold reserve valuation on the U.S. Department of the Treasury's website.
