Tuesday, August 18, 2009

U.S. gold reserves

How much gold does the US have?

I researched this from two angles. Wikipedia has numbers, which come from Gold Council, on the gold reserves of each country. According to Wikipedia, the US has 8,133.5 metric tonnes. This is equivalent to 17,934,367.5 lbs, or 286,949,880 oz.

According to the Federal Reserve H.4.1 release on August 13, 2009, the central bank hold $11,041 million dollars in gold stock. If valued at the last official price of $42/oz, that is equivalent to 262,880,952 oz.

The numbers are fairly close, with perhaps the difference held by the Treasury. In theory, most of it is held at the Federal Reserve Bank of New York and Fort Knox, but I'm not sure when the last audit was performed.

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