Trump says his management will test Castle Knox ‘to manufacture certain the gold is there’

President Donald Trump mentioned his management goes to audit the U.S. gold reserves saved at Castle Knox in Kentucky.

“We’re going to go to Fort Knox, the fabled Fort Knox, to make sure the gold is there,” Trump mentioned Wednesday on Wind Power One.

A pressure to audit Castle Knox has won steam from feedback by means of Elon Musk on X just lately. Over the week few a long time, conspiracy theories have emerged from era to era about whether or not the federal government is being honest in regards to the quantity of gold saved there on account of the citadel’s top safety.

The Treasury Section offers the precise quantities of the U.S. gold reserves on its web page and says there are 147,341,858.382 troy oz in Castle Knox.

“I think if this administration presses for an audit, that’ll be a good thing for everybody,” mentioned Alamos Gold CEO John McCluskey on CNBC’s “Squawk Box” on Thursday.

Treasury officers have showed that the gold is there at Castle Knox. Treasury Secretary Scott Bessent on Wednesday told a Wisconsin broadcaster that the Treasury does an audit each and every date.

“All the gold is present and accounted for,” Bessent mentioned

In keeping with a query from CNBC’s David Faber on “Squawk on the Street” on whether or not there may be gold at Castle Knox, former Treasury Secretary Steven Mnuchin mentioned: “The gold was there when I visited it. I hope nobody’s moved it. I’m sure they haven’t.”

Bessent’s feedback from previous this era, to “monetize the asset side of the U.S. balance sheet for the American people” additionally added to fresh investor hypothesis that the U.S. govt must audit its gold reserves and in all probability revalue them. The Treasury Section’s flow gold holdings are priced at $42 per ounce, a degree this is eager by means of legislation and hasn’t modified since 1973.

Spot gold on Thursday rose, hitting any other report top of $2,954.69 an oz. previous within the consultation. That’s bullion’s 10th report top of the date.