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Gold Reaches Record Highs Amid Global Uncertainty
Gold Hits Record Highs as Central Banks Turn to It Amid Global Uncertainty and Market Volatility.
What’s it worth: From Costco Gold Bars to Pots of Gold
The market value of all the gold stored in the New York Federal Reserve vault could be estimated at between $470 billion and $680 billion, depending on the market price of gold. This year, the price hit a record high.
Value of Reserves Rises and Falls with Price of Gold
The value of gold reserves rises and falls with the price of gold. As of July 2025, the market value could be estimated between $470 billion and $680 billion.
Who Owns All the Gold in the Fed’s Stockpile?
None of that gold belongs to the Fed. In 2021, the U.S. Treasury Department reported it only stores about 416 metric tons there. The rest belongs to foreign governments, other central banks, and official international organizations.
Golden Opportunity for a Heist Movie?
The United States stores gold in other places, too. The largest American-owned gold stockpile is at Fort Knox in Kentucky, which houses about 4,583 metric tons of gold.
Other countries also have large gold reserves, including Germany, Italy, and France.
Why People Still Like Gold
Some investors, central banks, and governments view gold as an attractive asset that inspires confidence in uncertain times. It’s historical money, going back several millennia.
Gold is a highly liquid asset with no particular credit risk and isn’t directly controlled by any central bank. It’s viewed as “real” money that can’t be printed.
Why Gold Demand Surged
The demand for real hard assets that complement fiat currency rose over the last few decades as global debt and governments’ share of that debt increased. The 2008 financial crisis, U.S.-China trade war, shifting trade alliances, and expanded sanctions drove some central banks’ interest in gold.
Gold Price Jumped Since the Start of 2024
Gold is valued higher when market risk is unclear and uncertainty is high. This year, gold overtook the euro as the second-largest global reserve asset after the U.S. dollar.
Cavatoni said that rating agencies’ downgrades to the U.S. government’s creditworthiness and risks with holding treasuries are also driving increased demand from emerging market central banks.
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