North Dakota Senate Rejects Bill To Invest in Gold and Silver

BISMARCK, N.D. (KVRR) — A bill that would have required one percent of money in North Dakota’s state treasury to be invested in gold and silver bullion has been rejected.

The Senate voted 13-34, killing the House bill sponsored by Republican Rep. Daniel Johnston of Kathryn.

He says gold has appreciated greatly in recent decades while the U.S. dollar loses value every year.

It would have cost Bank of North Dakota about $2 million to renovate its vault to hold the gold and silver.

Another Republican state senator says the State Investment Board and Department of Trust Lands can already make precious metal investments.