The US has the largest gold reserves in the world

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Did you know that the US government still values its massive gold reserves at just $42 per ounce – a price set back in 1973. But with gold now trading at nearly $3,000 an ounce, Wall Street is buzzing about what would happen if the government updated this valuation to today's market price. This simple change could turn $11 billion worth of gold into $760 billion overnight.

The US holds the world's largest government gold stockpile – 8,133 metric tonnes of it – spread across Fort Knox in Kentucky, Denver and West Point. Unlike most countries, where the central bank holds the gold, in America, it's the government that owns it directly. The US Federal Reserve just holds certificates matching the value of these gold reserves.