Musk and Trump Call for Audit of Fort Knox Gold Reserves

Amid renewed speculation, officials assert the $434 billion gold supply is intact and secure.

Elon Musk and President Donald Trump have questioned the state of the U.S. gold reserves at Fort Knox, with Trump pledging to personally inspect the facility.
Treasury Secretary Scott Bessent dismissed concerns, citing annual audits and confirming the gold's presence as of September 2024.
Fort Knox holds 147.3 million troy ounces of gold, valued at $434 billion at current market prices, though the government lists it at a nominal book value of $6 billion.
Public interest in gold reserves has surged alongside rising gold prices, which have climbed over 40% in the past year due to inflation concerns.
Some crypto advocates argue that a Fort Knox audit could bolster the case for a national bitcoin reserve, emphasizing bitcoin's transparency and traceability.