United States Gold Possession and the Federal Reserve
The United States has maintained significant gold reserves for years, however the gold is held by the United States Treasury– not the Federal Book The Federal Book’s frequently asked question page explicitly mentions, “The Federal Book does not own gold.” After the 1934 Gold Get Act, all gold was moved to the Treasury.
The Reserve Bank of New York City (FRBNY) does not own any type of gold in its popular Manhattan vault; it just shops gold for account holders. Gold has actually played a major duty in monetary background, from the 19 th-century gold standard to the Bretton Woods system.
Just how and Where the United States Shops Its Gold
By the end of 2024, all federal government gold– about 261 million troy ounces– was kept by the United States Treasury. Approximately 95 % is kept in United States Mint centers, with the largest safe at Fort Knox, Kentucky, consisting of around 147 3 million ounces. Throughout World War II, Fort Knox stood up to 649 6 million ounces as gold was moved inland for safety. Today, the remaining gold is kept at West Factor, New York (about 56 1 million ounces), and Denver (about 43 9 million ounces).
The FRBNY holds just about 13 38 million ounces people gold– around 5 % of the overall Treasury reserve– while the Mint preserves the remainder.
The Special Function of the New York Fed Vault
The New york city Fed vault is a substantial below ground storage space center, more than 80 feet below road degree, holding concerning 507, 000 gold bars (around 6, 331 metric heaps). This makes it the globe’s largest gold repository. The Fed does not have the gold; rather, it “holds and takes care of the gold in behalf of account owners,” consisting of the United States Treasury, foreign federal governments, reserve banks, and worldwide organizations.
Each bar is numbered and kept individually by account. When governments withdraw gold, the FRBNY returns a the same bar to the one transferred. The gold is never acquired, marketed, or owned by the Fed. As of November 2024, the FRBNY safe held 13, 376, 987 ounces of US gold bullion and 73, 452 ounces of US gold coins.
International Gold Holdings in the New York Fed
The FRBNY additionally safeguards large foreign gold down payments. Germany shops regarding one-third of its 3, 352 tonnes of gold in New York– approximately 1, 200 tonnes. In 2025, German political leaders requested checks or repatriation. Italy possesses about 43 % of the gold at the FRBNY, around 1, 060 tonnes. Other central banks and organizations, such as the IMF, likewise store gold below for protection.
France and Russia shop almost all their gold domestically, and by 2019, the Netherlands had actually repatriated most of its gold from the United States.
Gold’s Changing Duty in Global Finance
Gold was when main to global monetary policy. In the 19 th century, gold standards secured currencies to gold. The 1944 Bretton Woods Agreement fixed the US dollar to gold at $ 35 an ounce. Exporting countries accumulated gold gets, frequently in New york city.
By 1972, New York’s gold books gotten to 12, 711 tonnes. The Gold Pool– an alliance of the US and seven European nations– sold gold to maintain the rate secure. In 1971, Head of state Nixon suspended buck convertibility, finishing Bretton Woods The IMF later on removed gold’s official role in exchange rates, marketing part of its books.
Today, the New york city Fed holds about 5 % of US gold as a guard, however the majority of is possessed by international nations. While the vaults as soon as played an important role in the gold criterion, gold now serves as a critical book instead of as direct cash.
Trick Takeaways
- The New York Fed does not own gold; it acts as a safe and secure custodian for the United States Treasury and international nations.
- Regarding 95 % people gold is kept in Mint safes, with Fort Knox as the biggest.
- Only 5 % of US gold is held at the New York Fed, mainly for safekeeping.
- The vault shops gold for several nations, including Germany and Italy, and for global organizations.
- Gold’s role has changed from currency support to critical reserve, showing modifications in global financing.
- The New York Fed safe remains the world’s biggest gold database, symbolizing count on and security in the worldwide system.
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