The US Treasury’s gold reserves stored in Fort Knox and other depositories are now valued at more than $1 trillion at current gold prices, far exceeding the official balance sheet value.
Gold prices have surged 45 percent this year to reach $3,825 per ounce, driving the market value of US government gold holdings to record highs.
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America holds the world’s largest official gold stockpile with over 8,133 tonnes of reserves, making it the biggest player in global bullion markets.
The US Treasury’s gold holdings have topped $1 trillion in value, more than 90 times the amount reported on the government’s balance sheet, as the precious metal reaches fresh all-time highs, reports Bloomberg.
The US is the largest holder, with 8,133 tonnes of gold reserves. The US gold hoard totals about 261.5 million ounces, according to Treasury data.
The Treasury Department’s current gold holdings have been set at $42 per ounce since 1973. However, the gold price today in the international market is $3,825, after rising 45% this year. This implies that the Treasury’s coffers would receive about $990 billion if the reserves’ value were updated to reflect current prices.
Fort Knox Gold
A large portion of the US gold reserve is stored in Fort Knox. The Treasury Department provides precise U.S. gold reserves information on its website, stating Fort Knox holds 147,341,858.382 troy ounces equal to approximately 4,000 tonnes.
Earlier this year, Treasury Secretary Scott Bessent made an offhand comment that spurred speculation that the government’s gold hoard might be marked to market, resulting in a bonanza of hundreds of billions of dollars. Bessent later denied the offer, and Bloomberg reported that the concept isn’t being seriously considered.
President Donald Trump and entrepreneur Elon Musk’s remarks in February sparked conspiracy theories that suggested the gold stored in Fort Knox might not actually be there.
In June 2025, Congress members introduced the Gold Reserve Transparency Act of 2025, requiring the Comptroller General to conduct a comprehensive audit of America’s gold reserves.
Gold Price
Bullion has shattered multiple records this year as investors seek safety in the face of instability caused by trade conflicts, geopolitical tensions, and mounting concerns about a potential US government funding crisis. Inflows into exchange-traded funds have also bolstered the rise, as has the Federal Reserve’s resumed interest rate decreases.
Central Banks and Gold
Central banks now officially hold 36,344 tonnes of gold as of May 2025. Global central banks are now holding more gold than US Treasuries. For the first time since 1996, central banks’ foreign exchange holdings hold more gold than US Treasuries.
India has gold holdings of 876.18 tonnes as of June 2025. Gold price today in India is Rs 1,15,890, having crossed the Rs 1 lakh mark in July 2025. Dubai gold rate today is Rs 1,08,633 for 24 carat 10 gram.