How Much Gold Does the US Government Own? Complete Breakdown
01Key Facts About US Gold Reserves
- World's Largest: The US holds more gold than any other nation - nearly 2.5x more than Germany (#2)
- Book Value vs Market Value: Official "book value" is $11 billion, but market value was about $1.09 trillion at the October 16, 2026 spot close of $4,166/oz. That is the September 30, 2026 holdings multiplied by one day's spot price - an illustration, not what the gold would fetch if it were sold, since a sale of this size would move the market
- No Gold Standard: Gold has been valued at $42.22/oz since 1973, regardless of market price
- Fort Knox Dominance: 56% of all US gold is stored at Fort Knox, Kentucky
- Foreign Gold Storage: Most gold at the NY Fed vault belongs to foreign governments, not the US
02Gold Holdings by Repository (September 30, 2026)
Distribution of US Gold Reserves
Million troy ounces by repository, with share of total (Treasury, September 30, 2026)
| Repository Location | Troy Ounces | % of Total | Market Value (@ $4,166/oz, Oct 16, 2026) | Book Value (@ $42.22/oz) |
|---|---|---|---|---|
| Fort Knox, Kentucky | 147,341,858 | 56.3% | $613.8 billion | $6.2 billion |
| West Point, New York | 54,067,331 | 20.7% | $225.2 billion | $2.3 billion |
| Denver, Colorado | 43,853,707 | 16.8% | $182.7 billion | $1.9 billion |
| Federal Reserve Banks (NY vault and display) | 13,452,811 | 5.1% | $56.0 billion | $568 million |
| Working Stock (All Locations) | 2,783,219 | 1.1% | $11.6 billion | $118 million |
| TOTAL | 261,498,926 | 100% | $1.09 trillion | $11.0 billion |
03Historical US Gold Holdings (1933-2026)
US Gold Reserves Over Time (Million Troy Ounces)
| Year | Troy Ounces (millions) | Metric Tons | Gold Price ($/oz) | Market Value (Nominal) | Market Value (2026 $) |
|---|
04Historical Gold Prices & Total Value
US Gold Reserve Market Value Over Time
Historical Gold Prices (1933-2026)
05US-Owned vs Foreign-Owned Gold
| US Treasury gold | ~261.5M oz |
| Foreign gold held at the NY Fed (Aug 2026) | 184M oz |
Understanding Gold Ownership
- US Treasury Gold: ~261.5 million troy ounces owned by the United States government
- Foreign Central Bank Gold: The Federal Reserve Bank of New York held about 5,725 metric tons (184 million oz) of gold belonging to foreign governments and international organizations at the end of August 2026 (Federal Reserve earmarked gold data, preliminary)
- Key Point: The NY Fed vault is one of the world's largest gold repositories (~507,000 gold bars), but the Fed does not own this gold - it merely stores it as a custodian
- German Gold: Germany stores about 1,236 tonnes (37%) of its 3,352 tonnes of gold reserves in New York
- Bretton Woods Legacy: Many nations stored gold in NY during the gold standard era (1944-1971)
06Sources and Notes
Official Data Sources
- U.S. Treasury Fiscal Data - Status Report of Government Gold Reserve
- United States Mint - Fort Knox Bullion Depository
- Federal Reserve - U.S. Reserve Assets
- Federal Reserve Economic Data (FRED) - Gold Reserve Quantity
Additional References
- World Gold Council - Central Bank Gold Reserves
- U.S. Geological Survey - Gold Statistics and Information
Audits: The Treasury Office of Inspector General audits the Mint's schedule of custodial deep-storage gold and silver reserves (Fort Knox, Denver and West Point) every year. The latest report, OIG-26-002 (December 12, 2025), gave an unmodified opinion on the balances as of September 30, 2025 and 2024. It examines evidence for those balances on a test basis and does not describe a physical count or assay; GAO testimony in 2011 (GAO-11-768T) said the OIG's work since fiscal 2008 had mainly been inspecting the seals on the 42 deep-storage compartments. The audit does not cover the gold held at Federal Reserve Banks or the working stock.
Last Updated: October 19, 2026 | Holdings: Treasury Status Report of Government Gold Reserve, September 30, 2026 (261,498,926.241 fine troy oz). Gold price: spot close of October 16, 2026 (~$4,166/oz)
Historical Note: The official US government "book value" remains $42.22 per troy ounce as established in 1973, regardless of market prices.
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