Trump Calls for Fort Knox Gold Audit, Sound Money Defense League Urges Action
President Trump's renewed call for a Fort Knox gold audit has prompted the Sound Money Defense League to urge Congress to advance the Gold Reserve Transparency Act, raising questions about the status of US gold reserves.
President Donald Trump has reignited calls for an audit of the US gold reserves at Fort Knox, prompting the Sound Money Defense League to urge Congress to take immediate action on the Gold Reserve Transparency Act.
In a post on Truth Social, Trump declared "TIME TO AUDIT FORT KNOX," following reports that a former CIA official was allegedly found with $40 million in clandestine gold bars. The president has made multiple public comments on the issue, including during an appearance on Full Measure with Sheryl Attkisson earlier this month. The Gold Reserve Transparency Act, pending in both the US House and Senate, would require a full audit and certification of the nation's gold holdings.
For gold and precious metals traders, the push for a Fort Knox audit introduces a layer of uncertainty around the actual status of US gold reserves. While the US officially holds over 8,100 tonnes of gold, the last full audit was conducted decades ago. Any discrepancy or delay in the audit process could fuel speculation about the integrity of the reserves, potentially impacting gold prices. Traders can monitor real-time gold quotes on NowPrice for the latest market reactions to this developing story.
Looking ahead, the key event to watch is the legislative progress of the Gold Reserve Transparency Act. If Congress moves quickly, an audit could be initiated within months, providing clarity. Conversely, political gridlock may prolong uncertainty. Traders should also monitor any further comments from President Trump or other officials, as well as reports from the US Treasury or the Government Accountability Office regarding the status of the gold reserves.