The US government has $36 trillion of outstanding debt

The US government has $36 trillion of outstanding debt.

The spot price of gold has risen more than 40% in the past year, surpassing the S&P 500's gains.

The U.S. government holds around 261.6 million troy ounces of gold, currently valued at $42.22 an ounce, the price gold was at in the 1970's and US Treasury Secretary Scott Bessent is on the hunt for assets.

If revalued at the current spot price of $2,885 per ounce, the gold reserves would be worth around $755 billion. This has led to speculation about monetising these assets to bolster the U.S. balance sheet.

Scott Bessent faces the challenge of managing the nation's economic goals while addressing the deficit and maintaining the dollar's status, although the administration is looking to devalue the dollar. Some experts suggest a global monetary reset, potentially benefiting gold and cryptocurrencies like Bitcoin.

It's bullish for gold because gold has lived in the shadows, and no one from the government ever talks about it. Now that Bessent has thrust gold into the limelight, more financial institutions will be talking about it and putting it onto their agenda.

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