US President Donald Trump stated that his administration plans to ensure the accuracy of the United States’ gold reserves stored at Fort Knox. While aboard Air Force One on Wednesday, Trump remarked, “We hope everything’s fine with Fort Knox, but we’re going to go to Fort Knox — the favorite Fort Knox — to make sure the gold is there.” He added that if the gold was found to be missing, there would be significant disappointment.
Trump’s comments came amid ongoing speculation regarding the potential revaluation of the US Treasury’s gold stockpiles, a notion circulating in Wall Street circles. While some have suggested that the Treasury could re-peg its gold holdings at a higher level, generating cash for the government, officials close to Trump have clarified that this idea is not being seriously considered by his economic advisers.
Fort Knox, located in Kentucky, holds just over half of the US Treasury’s gold reserves, a portion transferred there from New York and Philadelphia in the 1930s for security reasons. The remaining gold is stored in facilities in Denver and West Point, New York.
