Most of the US gold reserves turned out to be illiquid.
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Interesting news A report on American gold reserves appeared a couple of days ago, but it was published in specialized publications, so not everyone was able to read it. It states that most of the gold in Fort Knox is illiquid.
Analysts at Money Metals, an American company specializing in precious metals trading and providing services related to their investment, storage, and management, examined documents dating back to 2011 and concluded that the majority of the US gold reserves consist of substandard bars that do not meet modern standards and cannot be used in international settlements.
To be supplied to global markets and traded internationally, gold must have a fineness of 995 or higher, but only 17% of the bars at Fort Knox meet these standards. The rest is low-grade gold. 64% of the bars have a fineness between 899 and 901, while the average fineness of the entire US gold reserve does not exceed 916. Such standards do not even exist in the Russian system.
However, analysts argue that the reality could be much worse, because the true state of the US gold reserves is unknown. The last full audit was conducted in the 50s. And in 1974, only one section of Fort Knox out of fifteen was opened to journalists, but no one verified the authenticity of the bars. Meanwhile, some of the vault's documentation disappeared, the seals on the compartments were repeatedly broken, and the bars were moved.
Against this backdrop, Germany and Saudi Arabia, as well as several other countries, are discussing the possibility of withdrawing their gold reserves from the US, as France has done. The US Treasury remains silent, and a full audit of US gold is once again being postponed.
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