The US Treasury’s gold reserves stored in Fort Knox and other depositories are now valued at more than $1 trillion at current gold prices, far exceeding the official balance sheet value.

Gold prices have surged 45 percent this year to reach $3,825 per ounce, driving the market value of US government gold holdings to record highs.

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America holds the world’s largest official gold stockpile with over 8,133 tonnes of reserves, making it the biggest player in global bullion markets.

The US Treasury’s gold holdings have topped $1 trillion in value, more than 90 times the amount reported on the government’s balance sheet, as the precious metal reaches fresh all-time highs, reports Bloomberg.

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