On February 20th, President Donald Trump announced plans to review the gold reserves at Fort Knox in Kentucky. This statement drew significant attention at the Republican Governors Association event in Washington, D.C. Trump emphasized that while he hopes everything at the depository is in order, he would be very upset if it turned out there was no gold. "If there's no gold there, we will be very upset," Trump said.
This remark also sparked speculation that the U.S. Treasury might reassess its gold reserves, especially in light of Trump's intent to audit Fort Knox. However, insiders revealed that Trump's economic advisors have not seriously considered this measure. Nevertheless, Trump's words have stirred considerable discussion in the media.
Meanwhile, Tesla CEO Elon Musk also took to social platform X (formerly Twitter) to question the authenticity of the U.S. gold reserves. On February 17th, he posted, "Looking for gold in Fort Knox..." and reshared a post by Senator Mike Lee, who stated he was denied access to inspect Fort Knox. Musk then posed the question: "Who can be sure that the gold in Fort Knox hasn't been stolen? Maybe the gold is there, maybe it isn't. That gold belongs to the American public! We need to know if the gold is still there."
Following Musk's post, Senator Rand Paul publicly supported Musk's audit proposal, stating that Fort Knox and its inventory require greater transparency and called for an audit. On platform X, he stated, "Let's check," while also highlighting the issue of Fort Knox's transparency in an interview with Fox News.
Currently, the U.S. Treasury data indicates that Fort Knox holds over 147 million troy ounces (approximately 4572.2 tonnes) of gold, which constitutes key foreign exchange reserves for the U.S. Nonetheless, Fort Knox has historically been closed to public visits, with only two exceptions: a visit by former President Franklin Roosevelt in 1943 and an inspection by Congressmen in 1974. Musk and Paul's calls may prompt further audit actions, especially on this sensitive topic.
It's worth noting that apart from Fort Knox, other major U.S. depositories also store large amounts of gold. For example, the West Point Depository in New York holds 54 million troy ounces (1679.6 tonnes) of gold, while the Denver Mint in Colorado stores 43.8 million troy ounces (1362.3 tonnes) of gold. The U.S. Mint and Federal Reserve Banks also hold substantial gold reserves. Despite this, the gold reserves at Fort Knox remain the focal point of public attention and current debate.
In summary, Trump's statement and Musk's questioning have intensified scrutiny of the U.S. gold reserves, and whether the gold at Fort Knox truly exists and is properly managed may become a key topic in future political discussions.
