President Donald Trump mentioned his administration goes to audit the U.S. gold reserves saved at Fort Knox in Kentucky.
“We’ll go to Fort Knox, the fabled Fort Knox, to ensure the gold is there,” 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 every now and then about whether or not the federal government is being truthful in regards to 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 feel if this administration presses for an audit, that’ll be factor for everyone,” mentioned Alamos Gold CEO John McCluskey on CNBC’s “Squawk Field” on Thursday.
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 once I visited it. I hope no one’s moved it. I am certain they have not.”
Gold futures, 1 12 months
Treasury Secretary Scott Bessent’s feedback from earlier this month, to “monetize the asset aspect of the U.S. stability sheet for the American individuals” 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 stage 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.