US Gold Possession and the Federal Reserve
The USA has maintained vital gold reserves for many years, however the gold is held by the US Treasury—not the Federal Reserve. The Federal Reserve’s FAQ web page explicitly states, “The Federal Reserve doesn’t personal gold.” After the 1934 Gold Reserve Act, all gold was transferred to the Treasury.
The Federal Reserve Financial institution of New York (FRBNY) doesn’t personal any gold in its well-known Manhattan vault; it merely shops gold for account holders. Gold has performed a significant position in financial historical past, from the Nineteenth-century gold commonplace to the Bretton Woods system.
How and The place the US Shops Its Gold
By the top of 2024, all federal authorities gold—about 261 million troy ounces—was saved by the US Treasury. Roughly 95% is held in US Mint services, with the biggest vault at Fort Knox, Kentucky, containing round 147.3 million ounces. Throughout World Struggle II, Fort Knox held as much as 649.6 million ounces as gold was moved inland for safety. At this time, the remaining gold is saved at West Level, New York (about 56.1 million ounces), and Denver (about 43.9 million ounces).
The FRBNY holds solely about 13.38 million ounces of US gold—round 5% of the whole Treasury reserve—whereas the Mint retains the remaining.
The Distinctive Function of the New York Fed Vault
The New York Fed vault is an enormous underground storage facility, greater than 80 ft beneath road stage, holding about 507,000 gold bars (round 6,331 metric tons). This makes it the world’s largest gold repository. The Fed doesn’t personal the gold; as an alternative, it “holds and cares for the gold on behalf of account holders,” together with the US Treasury, international governments, central banks, and worldwide organizations.
Every bar is numbered and saved individually by account. When governments withdraw gold, the FRBNY returns an an identical bar to the one deposited. The gold is rarely purchased, offered, or owned by the Fed. As of November 2024, the FRBNY vault held 13,376,987 ounces of US gold bullion and 73,452 ounces of US gold cash..
Overseas Gold Holdings within the New York Fed
The FRBNY additionally safeguards giant international gold deposits. Germany shops about one-third of its 3,352 tonnes of gold in New York—roughly 1,200 tonnes. In 2025, German politicians requested checks or repatriation. Italy owns about 43% of the gold on the FRBNY, round 1,060 tonnes. Different central banks and establishments, such because the IMF, additionally retailer gold right here for safety.
France and Russia retailer almost all their gold domestically, and by 2019, the Netherlands had repatriated most of its gold from the US.
Gold’s Altering Function in International Finance
Gold was as soon as central to world financial coverage. Within the Nineteenth century, gold requirements pegged currencies to gold. The 1944 Bretton Woods Settlement mounted the US greenback to gold at $35 an oz.. Exporting nations amassed gold reserves, typically in New York.
By 1972, New York’s gold reserves reached 12,711 tonnes. The Gold Pool—an alliance of the US and 7 European nations—offered gold to maintain the worth steady. In 1971, President Nixon suspended greenback convertibility, ending Bretton Woods. The IMF later eliminated gold’s official position in trade charges, promoting a part of its reserves.
At this time, the New York Fed holds about 5% of US gold as a safeguard, however most is owned by international nations. Whereas the vaults as soon as performed an important position within the gold commonplace, gold now serves as a strategic reserve quite than as direct cash.
Key Takeaways
The New York Fed doesn’t personal gold; it acts as a safe custodian for the US Treasury and international nations.
About 95% of US gold is saved in Mint vaults, with Fort Knox as the biggest.
Solely 5% of US gold is held on the New York Fed, primarily for safekeeping.
The vault shops gold for a lot of nations, together with Germany and Italy, and for worldwide establishments.
Gold’s position has shifted from foreign money anchor to strategic reserve, reflecting modifications in world finance.
The New York Fed vault stays the world’s largest gold repository, symbolizing belief and stability within the world system.
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