Treasury’s Bessent Rules Out Gold Revaluation, Dismisses Crypto Reserves

U.S. Treasury Secretary Bessent said in a Fox Business Network interview that she "doubts" the government will revalue its gold reserves, reiterating that bullion will continue to be held as a long-term store of value. Her remarks clarify Washington’s stance amid periodic calls from some lawmakers and market commentators to mark the nation’s gold stockpile to market prices or use it to shore up public finances. Bessent added that the Treasury has no intention of buying cryptocurrency to back U.S. reserves, saying any digital-asset holdings will come from confiscated assets rather than open-market purchases. The comments arrive with gold trading close to record highs as investors seek safety ahead of expected Federal Reserve rate cuts and lingering inflation pressures.