President Trump and Elon Musk have reignited suspicions over Fort Knox’s gold reserves, challenging decades of secrecy and sparking calls for a full audit.
At a Glance
- Fort Knox holds 147.3 million ounces of gold, about half of U.S. reserves.
- The last comprehensive audit occurred in 1953; a partial inspection followed in 1974.
- Seven audit reports from 1975–1984 are missing, raising transparency concerns.
- Treasury Secretary Scott Bessent asserts annual audits confirm the gold’s presence.
- Congressional leaders are now pushing for a full, independent audit.
The Gold Audit Controversy
In February 2025, President Donald Trump and Elon Musk publicly questioned the integrity of Fort Knox’s gold reserves. Trump announced plans to personally inspect the depository, stating, “We’re going to go to Fort Knox to make sure the gold is there,” according to Business Insider. Musk, through a post on his social platform X, proposed a live video walkthrough, amplifying longstanding conspiracy theories surrounding the vault’s contents.
Treasury Secretary Scott Bessent countered the speculation, affirming that routine annual audits confirm the gold’s presence. He also offered to arrange inspections for interested senators. Yet despite these reassurances, calls for transparency have grown louder. Senator Rand Paul and other lawmakers have renewed demands for independent verification of the reserves, as reported by CBS4 Local.
Watch a report: Fort Knox Gold Audit? This Is What Actually Happened.
Historical Oversight and Missing Reports
The last full audit of Fort Knox occurred in 1953. In 1974, a brief media and congressional visit was allowed, but it did not include assaying or serial number checks. This inspection did little to assuage public doubts about the true state of the vault’s contents.
From 1975 to 1986, the U.S. Treasury claimed that 97% of the gold was audited and sealed. However, seven audit reports from 1975 to 1984 are missing, and in some cases, supposedly permanent seals were found broken with no satisfactory explanation. These inconsistencies have raised deep concerns over the credibility of the U.S. government’s gold oversight.
Renewed Calls for Transparency
Amid rising public interest and political pressure, lawmakers introduced legislation on June 6, 2025, demanding the first comprehensive audit of U.S. gold reserves in over six decades. Advocates argue that a verified inventory is essential to fiscal integrity and public trust.
Although the Treasury maintains that all is in order, the legacy of secrecy, coupled with the recent scrutiny by influential figures like Trump and Musk, has ignited a nationwide push for answers. Whether symbolic or substantive, the demand for transparency at Fort Knox now sits at the heart of a broader conversation on government accountability.
