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<\/picture><\/a><\/p>\nEarlier this year, President Donald Trump and billionaire entrepreneur Elon Musk\u00a0suggested<\/a>\u00a0that the administration would investigate Fort Knox, the Kentucky-based facility that stores U.S. gold reserves.<\/p>\n \u201cWe\u2019re going to go into Fort Knox to make sure the gold is there,\u201d<\/strong><\/em>\u00a0Trump told reporters aboard Air Force One in February.\u00a0\u201cYou know that we\u2019re going to go into Fort Knox? Did you know about that?\u201d<\/strong><\/em><\/p>\n Several months later, the White House has not announced a formal investigation.<\/p>\n Rep. Massie submitted a bill\u2014titled the\u00a0Gold Reserve Transparency Act of 2025<\/a>\u2014mandating the comptroller general to conduct and publish a full audit of the nation\u2019s gold reserves.<\/strong><\/p>\n Co-sponsored by Reps. Warren Davidson (R-Ohio), Addison McDowell (R-N.C.), and Troy Nehls (R-Texas), the bill would grant the Government Accountability Office and third-party independent auditors access to any public or private depository where gold reserves and records are stored. This would include deep storage locations such as Fort Knox.<\/p>\n The bill would also require full disclosure of all gold-related transactions, such as leases, loans, sales, and swaps, over the past 50 years.<\/p>\n If the legislation is signed into law, the audit is projected to take up to one year and will be conducted every five years.<\/p>\n \u201cAmericans deserve transparency and accountability from the institutions that underpin our currency,\u201d\u00a0<\/strong><\/em>Massie said in a\u00a0statement<\/a>.<\/p>\n \u201cIn February, President Trump said \u2018We\u2019re going to Fort Knox … to make sure the gold is there.\u2019 The Gold Reserve Transparency Act of 2025 will provide the full disclosure President Trump seeks and the American public deserves.\u201d<\/em><\/p>\n Gold is also stored at the Denver Mint, West Point Mint, and the Federal Reserve Bank of New York. Fort Knox is typically at the epicenter of the conversation since it accounts for approximately half of the total U.S. gold reserves. Estimates suggest that out of America\u2019s 261 million troy ounces of gold, Fort Knox holds more than 147 million.<\/p>\n
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