The question about the amount of gold an average American owns is a simple one, but the answer is rather involved. The amount of private gold held in the United States is unknown, for one thing.
No one is going to give up such sensitive information voluntarily. However, this subject will become more significant when the world's monetary system is undoubtedly reorganized in the coming decades.
Let's briefly discuss the official U.S. government gold reserves before we try to address the topic of private American gold ownership.
If you are looking to invest, we have done hundreds of hours of research finding the best investment companies! Take advantage of our research and choose a trusted company!
Click the link above to see if one of these companies fits your investment needs.
The United States Government Gold Reserves
The U.S. Treasury Department has reported that the country has more than 8,133 metric tons of pure gold stored in vaults all around the country. Over 4,583 metric tons or more than half of this hoard, is protected by an active U.S. Army camp at the world-famous United States Bullion Depository in Fort Knox, Kentucky.
According to the World Gold Council, the United States has the largest private gold holdings in the world at 8,133.5 tonnes or around 261 million ounces. This means that each American owns roughly 0.83 ounces of gold on average.
Nevertheless, this analysis needs to consider the long-standing speculation that part or most of the official U.S. gold reserves have been leased or sold without public disclosure. The fact that the United States gold holdings at Fort Knox have yet to be audited since 1953 has contributed to the spread of these allegations.
How Much Gold Does the Average Person Hold?
The amount of gold the average American owns is highly variable and depends on several factors. Generally speaking, most Americans don't own any gold at all. In fact, according to the World Gold Council, only around 10% of American households own physical gold.
However, this doesn't necessarily mean that the average American has no exposure to gold. Many Americans invest in gold through stocks and gold ETFs, which offer indirect exposure to gold. Many people also invest in gold-backed mutual funds, which provide indirect access to gold.
So, while the average American may not own any physical gold, they may still be exposed to gold through their investments. The amount of gold they own via these investments will vary depending on their risk appetite and investment strategy.
How Much Gold Should One Have?
One should own the amount of gold based on various factors and there is no one-size-fits-all answer. However, many financial experts recommend that an individual's portfolio include at least 5-15% in gold.
When deciding how much gold to own, it's important to consider several factors: