Loading ...‘The total monetary gold reserves of the United States stand at 276 million ounces, or 7,824 tonnes, and are still valued at $42.2222 per ounce. That’s $11.7 billion on the books of the US Treasury, when at current prices they would be worth $739 billion.
But in the end, how much does this accounting difference matter when you consider the US debt of $35 trillion, ‘
So if the Fed/Government wanted a 10 % backing (3.5/0.79 )Gold needs to rise 4.5 times from here…ie $ @12000….if it wanted a 50 % backing we need to see Au @ $v 60,000
Gold squeeze v good article