BBMarkets：黄金储备破万亿，特朗普会按下重估键吗？

Core Insights - The value of gold held by the U.S. Treasury has reached $1 trillion for the first time, driven by a 45% increase in gold prices this year, raising the market value of 8,133 tons of gold bars to a historical high [2] - There is speculation that Treasury Secretary Yellen may consider revaluing this long-held asset, which could instantly add approximately $990 billion to the asset side of the Treasury's balance sheet without needing Congressional approval or public market operations [2] - This potential revaluation could be likened to quantitative easing, allowing the Treasury to use the funds for debt repayment, deficit filling, or establishing a sovereign wealth fund [2] Legal and Market Implications - The legal framework for revaluing gold is uncertain, as the Treasury has accounted for gold at a statutory price of $42.22 per ounce since 1973, and any change would require agreement between the Treasury Secretary and the Federal Reserve Board [3] - The current administration's willingness to consider such a revaluation is seen as a potential "black swan" event, with bullish investors betting on gold prices reaching $4,000 [3] - The act of revaluing gold could signal a depreciation of the dollar against gold, potentially leading to increased prices for gold, Bitcoin, and other re-monetized assets, while also raising long-term interest rates and inflation expectations [2][3]