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The market value of the United States’ vast gold reserves topped $1 trillion mark for the first time on Monday. This comes as the gold price is experiencing a powerful rally, nearing $3,840 per ounce.
The staggering valuation contrasts with the fact that, despite having the world's biggest gold stash, America’s strategic share of global gold reserves has fallen to a 90-year low when compared to other countries.
The spot price hit a new all-time high of $3,831.33 before settling around $3,817, rising nearly 44% over the last year.
According to a Bloomberg report, this market valuation of over a trillion dollars is different from its value on the U.S. Treasury’s books, which remains fixed at just over $11 billion based on a statutory price of $42.22 an ounce set in 1973.
While the value of America's existing stockpile soars, its global influence in the gold market has diminished.
According to a Benzinga report, the U.S. has largely sat on the sidelines while central banks in countries like China, Russia, and India have been on a consistent buying spree, particularly since the 2008 Global Financial Crisis.
This aggressive accumulation by other nations has caused the U.S. portion of the total global reserve pie to shrink to its lowest level in nine decades, as per the Bloomberg data shared by Otavio Costa, a macro strategist at Crescat Capital.
At one point, the United States held over 50% of the world's gold reserves, highlights Costa. Today, that figure has dwindled to just 20%.
This divergence has led some experts to question America’s passive strategy. Costa also notes, it is "only a matter of time before US policymakers are forced to rethink this stance."
Additionally, a key survey of institutional investors indicates that a speculative frenzy has not yet taken hold, suggesting the rally could have more room to run.
This cautious sentiment is highlighted by data from a recent Bank of America Global Fund Manager Survey, which shows that 39% of fund managers still have zero allocation to the precious metal in their portfolios.
Gold Spot US Dollar rose 1.52% to hover around $3,817.57 per ounce. Its last record high stood at $3,831.33 per ounce.
Here are a few gold and gold miners linked exchange-traded funds that investors could consider investing in amid the price rally.
| Gold ETFs | YTD Performance | One Year Performance |
| Franklin Responsibly Sourced Gold ETF (NYSE: FGDL) | 42.07% | 43.24% |
| Goldman Sachs Physical Gold ETF (BATS: AAAU) | 41.46% | 42.87% |
| GraniteShares Gold Trust (NYSE: BAR) | 41.54% | 43.01% |
| VanEck Merk Gold ETF (NYSE: OUNZ) | 41.37% | 42.93% |
| SPDR Gold Trust (NYSE: GLD) | 41.28% | 42.66% |
| iShares Gold Trust (NYSE: IAU) | 41.44% | 42.84% |
| SPDR Gold MiniShares Trust (NYSE: GLDM) | 41.56% | 43.08% |
| abrdn Physical Gold Shares ETF (NYSE: SGOL) | 41.47% | 42.94% |
| iShares Gold Trust Micro (NYSE: IAUM) | 41.63% | 43.09% |
| Invesco DB Precious Metals Fund (NYSE: DBP) | 41.75% | 41.75% |
| Gold Miner ETFs | YTD Performance | One Year Performance |
| VanEck Gold Miners ETF (NYSE: GDX) | 111.32% | 87.54% |
| VanEck Junior Gold Miners ETF (NYSE: GDXJ) | 114.61% | 97.11% |
The SPDR S&P 500 ETF Trust (NYSE: SPY) and Invesco QQQ Trust ETF (NASDAQ: QQQ), which track the S&P 500 and Nasdaq 100 indices, respectively, rose in premarket on Monday. The SPY was up 0.55% at $665.49, while the QQQ rose 0.75% to $600.45, according to Benzinga Pro data.
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Posted In: AAAU BAR DBP FGDL GDX GDXJ GLD GLDM IAU IAUM OUNZ QQQ SGOL SPY
