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President Donald Trump recently announced plans for an audit of the U.S. gold reserves located at Fort Knox in Kentucky. Speaking aboard Air Force One, he expressed the intent to verify the existence of the gold held at this iconic facility.
The push for an audit has gained momentum following remarks made by Elon Musk on the social media platform X, reigniting longstanding conspiracy theories regarding the accuracy of official claims about the gold stored at Fort Knox, particularly due to the fortress’s stringent security measures.
According to the Treasury Department’s official website, the U.S. gold reserves total approximately 147,341,858.382 troy ounces currently stored at Fort Knox.
In a segment on CNBC’s “Squawk Box,” Alamos Gold CEO John McCluskey emphasized the potential benefits of such an audit, stating, “I think if this administration presses for an audit, that’ll be a good thing for everybody.”
Treasury officials have consistently reiterated the presence of gold at Fort Knox. Treasury Secretary Scott Bessent stated during an interview that regular audits are conducted each year to confirm the reserves. “All the gold is present and accounted for,” Bessent assured.
Former Treasury Secretary Steven Mnuchin also weighed in, recalling his own visit to Fort Knox and expressing confidence in the security of the gold. “The gold was there when I visited it. I hope nobody’s moved it. I’m sure they haven’t,” he commented in response to a question regarding the bullion’s status.
Investor speculation regarding the gold reserves intensified after Bessent suggested monetizing the asset side of the U.S. balance sheet for the benefit of American citizens. Currently, the Treasury Department’s gold reserves are valued at $42 per ounce, a figure that has been unchanged since 1973.
In the commodities market, spot gold prices reached a new all-time high on Thursday, peaking at $2,954.69 an ounce, marking the tenth record high for gold within the calendar year.
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