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The next highest holdings were Germany's, whose gold reserves were 3,364 metric tons. [44] As of 31 July 2020, Fort Knox holds 147.34 million troy ounces (4,583 metric tons) of gold reserves with a market value of US $290.9 billion, representing 56.35% of the gold reserves of the United States. [45] [46]
Fort Knox is a United States Army installation in Kentucky, south of Louisville and north of Elizabethtown. It is adjacent to the United States Bullion Depository (also known as Fort Knox), which is used to house a large portion of the United States' official gold reserves , and with which it is often conflated.
The US Treasury owns 8133.5 tonnes of gold, [27] 7628 tonnes of which is stored in US Mint storage facilities, namely, 4582 tonnes (147.3 million troy ozs) in the US Bullion Depository in Fort Knox, Kentucky, 1682 tonnes (54.1 million troy ozs) in the West Point bullion storage facility in upstate New York, and 1364 tonnes (43.8 million troy ...
Official U.S. gold reserve since 1900 Changes in Central Bank Gold Reserves by Country 1993–2014 Central 2005 and 2014. A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of ...
The increase in gold reserves due to the price change resulted in a large accumulation of gold in the Federal Reserve and U.S. Treasury, much of which was stored in the United States Bullion Depository at Fort Knox and other locations.
The vault (designed by Frederick S. Holmes) is the largest known and confirmed gold store in the world, and holds approximately 7,000 tonnes (7,700 short tons) of gold bullion, more than Fort Knox does. The gold does not belong to the bank, which transferred all of its domestic gold reserves to the Treasury under the Gold Reserve Act of 1934.
As of 2019 the mint holds 22% of the United States' gold reserves, or approximately 54,000,000 troy ounces (1,700,000 kg) [2] (over $100 billion USD as of 2021). The mint at West Point is second only to the gold reserves held in secure storage at Fort Knox. Originally, the West Point Mint was called the West Point Bullion Depository. [3]
Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 (equivalent to $487 in 2023) [6] per troy ounce.