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31 U.S. Code § 5116

Buying and selling gold and silver

31 U.S. Code § 5116. Buying and selling gold and silver

(a)
(1) With the approval of the President, the Secretary of the Treasury may—
(A)
buy and sell gold in the way, in amounts, at rates, and on conditions the Secretary considers most advantageous to the public interest; and
(B)
buy the gold with any direct obligations of the United States Government or United States coins and currency authorized by law, or with amounts in the Treasury not otherwise appropriated.
(2)
Amounts received from the purchase of gold are an asset of the general fund of the Treasury. Amounts received from the sale of gold shall be deposited by the Secretary in the general fund of the Treasury and shall be used for the sole purpose of reducing the national debt.
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