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New Wyoming law will establish strategic gold reserve
By Jp Cortez
Money Metals News Service
Monday, February 24, 2025
A groundbreaking bill to establish a strategic gold reserve has just become law in Wyoming.
Senate File 96 -- also known as the Wyoming Gold Act -- requires the Wyoming treasurer to diversify the state's holdings by acquiring no less than $10 million in "specie and specie legal tender" as part of the state's Permanent Mineral Trust Fund.
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After the bill passed overwhelmingly through both chambers, Gov. Mark Gordon -- who once held a position at the anti-gold Federal Reserve and previously served as state treasurer -- today begrudgingly allowed SF 96 to become law without his signature and wrote a letter expressing his personal skepticism about protecting taxpayer funds with a gold allocation.
Lead sponsor Sen. Bob Ide said, "At present, Wyoming sadly doesn't own a single ounce of gold, placing our state's finances and citizens at substantial risk. This new law forces the Wyoming treasurer's office to get off the dime and get itself educated on how to use physical gold to protect the state." ...
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