President Donald Trump mentioned his administration goes to audit the U.S. gold reserves saved at Fort Knox in Kentucky.
“We will go to Fort Knox, the fabled Fort Knox, to ensure the gold is there,” President Trump mentioned Wednesday on Air Power One.
A drive to audit Fort Knox has gained steam from feedback by Elon Musk on X not too long ago. Over the previous few many years, conspiracy theories have emerged on occasion about whether or not the federal government is being truthful concerning the quantity of gold saved there due to the fort’s excessive safety.
The Treasury Division provides the precise quantities of the U.S. gold reserves on its web site and says there are 147,341,858.382 troy ounces in Fort Knox.
“I believe if this administration presses for an audit, that’ll be a great factor for everyone,” mentioned Alamos Gold CEO John McCluskey on CNBC’s “Squawk Field” Thursday.
Gold futures, 1 12 months
Treasury Secretary Bessent’s feedback from earlier this month, to “monetize the asset facet of the U.S. stability sheet for the American folks” additionally added to current investor hypothesis that the U.S. authorities ought to audit its gold reserves and maybe revalue them. The Treasury Division’s present gold holdings are priced at $42 per ounce, a degree that’s set by regulation and hasn’t modified since 1973.
Spot gold on Thursday rose, hitting one other file excessive of $2,954.69 earlier within the session. That is bullion’s tenth file excessive of the 12 months.
