Bescent: No plans to revalue gold reserves

"When it comes to sovereign wealth funds, I said, 'Monetizing the balance sheet' is definitely not what I want," Mr. Bescent, the Treasury secretary, said of revaluing gold reserves. Pressed if he would discuss the issue, he repeated, "It's not what I want." Gold reserves are currently priced at $42.22 an ounce, the traditional official price from decades ago. Revaluing the value of these assets based on current market prices could raise the calculation from $11 billion to about $750 billion. He said there were no plans to visit Fort Knox, Tennessee - home to most of the nation's gold reserves - but he assured that "all the gold is there" and that any senator would be welcome to visit.