Treasury Secretary Scott Bessent said the entire U.S. gold stockpile at Fort Knox and other federal vaults remains present and accounted for. He made the statement during a Fox News interview, addressing long-running questions about the nation's gold reserves. The comment comes as skeptics continue to demand an independent audit of the holdings.
What Bessent said
Bessent told Fox News that the gold is all there. He didn't provide new documentation or a detailed inventory, but he insisted the reserves are intact. During the interview, he also discussed the history of U.S. currency backing, noting that the gold standard was abandoned decades ago. Still, he said, the physical gold remains a key asset on the government's balance sheet.
The Treasury secretary's remarks were brief and didn't include specifics about the last full audit or the exact amount of gold stored. The U.S. Mint and Treasury have long maintained that the gold is secure and regularly inspected, but outside verification has been limited.
Why the calls for an audit won't go away
Skeptics, including some lawmakers and gold-standard advocates, have pushed for years for a full, independent audit of the gold at Fort Knox. They argue that the last comprehensive public audit was in the 1950s, and that periodic inspections by Treasury officials aren't enough. The Government Accountability Office has also recommended more transparency.
Bessent's interview didn't satisfy those critics. They want a door-to-door count, with outside observers. The Treasury has resisted, citing security concerns and the logistical challenge of moving the gold. But the demands keep coming, especially from politicians who question the government's handling of assets.
No new audit has been announced. The Treasury says the gold is safe. The skeptics say prove it. That standoff isn't likely to end with Bessent's TV appearance.
