USA Today: Uncertain Economic Times? That Means it's Gold's Time to Shine
Article by Rachel Barber Veronica Bravo in USA Today
The price of gold fluctuates, but as of July 2025, the market value of all the gold stored in the New York Federal Reserve vault could be estimated somewhere between $470 billion and $680 billion, depending on the market price of gold, which hit a record high this year.
But none of that gold belongs to the Fed, and most of it isn’t American. In 2021, the U.S. Treasury Department reported it only stores about 13.4 million fine troy ounces – about 416 metric tons – there. The rest belongs to foreign governments, other central banks, and official international organizations, who trust the Fed to keep it locked away 80 feet below street level.
Why people still like gold
Beyond its shine, some investors, central banks, and governments view gold as an attractive asset that inspires confidence, even in uncertain times.
“It’s historical money. It goes back several millennia as original money,” said Aakash Doshi, the global head of gold strategy at State Street Investment Management. “It goes back to biblical times. It was one of the .....