Ratio of U.S. Gold Reserves to Various Money Supply Metrics

The official gold reserves in the United States steadily increased during the first half of the 20th century. Accumulation was particularly rapid following the Gold Reserve Act of 1934 which officially raised the price of gold from US$20.67 to US$35 per troy ounce. Large shipments of gold bullion went west across the Atlantic as the European central banks sold off their gold reserves for American currency. This flow of gold reversed its course beginning in the late '50s until the gold window was closed on August 15th 1971. From that date onward, aside from some sales in 1975 and 1978, the U.S. official gold reserve has remained steady.

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