Trump Reaffirms Plans to Audit Fort Knox and Its $700 Billion Gold Reserve

President Trump has reiterated his intention to conduct an audit of Fort Knox, the US Bullion Depository that officially holds roughly $700 billion worth of gold reserves. The announcement revives a long-running debate about whether the US government's gold holdings have ever been comprehensively verified in the modern era.

Fort Knox has not undergone a full independent audit since the Eisenhower administration in the 1950s. While the Treasury Department and US Mint conduct periodic internal reviews, critics and some lawmakers have periodically called for a transparent, third-party verification. Trump's renewed push would, if carried through, be the most significant public accounting of the depository's holdings in decades.

For macro and gold markets, a confirmed audit — whatever its findings — would be a rare data point on a reserve that underpins significant confidence in US…