President Donald Trump mentioned his administration goes to audit the U.S. gold reserves stored at Fort Knox in Kentucky.
“We’ll go to Fort Knox, the fabled Fort Knox, to verify the gold is there,” Trump mentioned Wednesday on Air Pressure 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 a long time, conspiracy theories have emerged occasionally 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 offers 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 feel if this administration presses for an audit, that’ll be a superb factor for everyone,” mentioned Alamos Gold CEO John McCluskey on CNBC’s “Squawk Field” on Thursday.
Steven T. Mnuchin, Founder and Managing Companion, Liberty Capital speaks on the Milken Convention 2024 International Convention Periods at The Beverly Hilton in Beverly Hills, California, U.S., Might 8 2024.
David Swanson | Reuters
Treasury officers have confirmed that the gold is there at Fort Knox. Treasury Secretary Scott Bessent on Wednesday informed a Wisconsin broadcaster that the Treasury does an audit yearly.
“All of the gold is current and accounted for,” Bessent mentioned
In response to a query from CNBC’s David Faber on “Squawk on the Avenue” on whether or not there’s gold at Fort Knox, former Treasury Secretary Steven Mnuchin mentioned: “The gold was there after I visited it. I hope no one’s moved it. I am certain they have not.”
Gold futures, 1 12 months
Bessent’s feedback from earlier this month, to “monetize the asset facet of the U.S. steadiness sheet for the American folks” additionally added to latest 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 legislation and hasn’t modified since 1973.
Spot gold on Thursday rose, hitting one other report excessive of $2,954.69 an oz earlier within the session. That is bullion’s tenth report excessive of the 12 months.
