Fortune: Repricing US Gold Reserves Would be Bullish for the Market
Article by Jason Ma in Fortune
Much attention has been focused on US gold reserves in recent days, especially the stockpile in Fort Knox. While Treasury Secretary Scott Bessent dismissed the possibility of revaluing the stash of gold to market levels, an analyst said that would be bullish for prices, which have already been on a tear.
Revaluing US gold reserves to match current market conditions would add more momentum to prices as it would signal the precious metal isn't an anachronistic asset, according to a Wall Street analyst.
In an interview on Bloomberg TV on Friday, Francisco Blanch, head of commodities and derivatives research at Bank of America Securities, acknowledged that repricing the gold would be an accounting exercise but still result in an increase .....