Feb 23, 2025
Article from Fortune by Jason Ma
Article Synopsis
Revaluing U.S. gold reserves to reflect current market prices could boost gold’s appeal and signal renewed interest from central banks, according to a Wall Street analyst. While the Federal Reserve no longer owns gold, the U.S. Treasury holds 261.6 million troy ounces valued at an outdated rate of $42.22 per ounce—far below today’s market price of around $2,950. Speculation about a potential revaluation grew after Treasury Secretary Scott Bessent’s recent remarks, though he later denied such plans.
Meanwhile, former President Donald Trump expressed interest in verifying Fort Knox’s gold reserves. Gold prices have surged in recent years, driven by geopolitical tensions and central bank buying. Analysts note that repricing gold wouldn’t directly align with Trump’s economic priorities, but potential U.S.-Russia economic cooperation could influence energy markets and fiscal policy.
