From CNBC: 2025-02-20 08:09:11

President Trump has announced plans to audit the U.S. gold reserves at Fort Knox in Kentucky. The Treasury Department confirms 147,341,858.382 troy ounces stored there. Recent comments by Elon Musk and Treasury Secretary Bessent have fueled speculation about revaluing the gold reserves, which are currently priced at $42 per ounce.

Alamos Gold CEO John McCluskey supports the audit, saying it would benefit everyone. Spot gold hit a record high of $2,954.69 on Thursday, marking its tenth record high of the year. The drive to audit Fort Knox has gained momentum amid conspiracy theories about the veracity of the government’s claims about the gold reserves.

Read more: Trump says his administration will check Fort Knox ‘to make sure the gold is there’