Gold rally lifts U.S. reserves to record $1 trillion valuation

[Gold prices falling in a bearish market. Red arrow going down over gold bullion bars. Concept digital 3D render.]
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The U.S. Treasury's gold reserve touched $1 trillion in value after the asset hit another record high and surged above $3,800 on Monday.

Gold’s (XAUUSD:CUR [https://seekingalpha.com/symbol/XAUUSD:CUR]) rally has lifted the value of U.S. reserves to nearly 90 times the figure stated in the government balance sheet.

The asset climbed 1.6% to a record high of $3,826.70 an ounce, surpassing last Tuesday’s peak after six consecutive weekly gains. Prices have jumped 45.1% since the start of the year.

The surge also comes at a time when investors are looking to invest in safe-haven assets amid persistent inflation woes, geopolitical tensions and continued doubts about the Federal Reserve's easing policy for the year.

Gold's rise has been helped [https://seekingalpha.com/news/4499729-gold-shines-helped-by-strong-etf-and-central-bank-demand] by strong demand from ETFs and central banks, according to Deutsche Bank Research. EFTs have made a grand comeback, ranking this year among the top three for gold accumulation since their inception, and ETF demand is now showing 50% greater influence on gold prices compared with the 2021-24 period.

As of August 31, the Treasury held around 261 million troy ounces of gold, and at Monday’s price that stash is worth about $1 trillion, compared with the official book value of just $11 billion, based on a statutory price set in the 1970s, according to the Congressional Research Service. [https://www.congress.gov/crs-product/IF13109]

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