Treasury Secretary Scott Bessent said Wednesday that the U.S. gold stockpile at Fort Knox and other federal vaults remains fully intact, seeking to put years of speculation about the nation’s bullion reserves to rest.
Speaking during an interview on Fox News, Bessent walked through the history of the U.S. monetary system before addressing the government’s gold holdings. He noted that the United States moved away from the gold standard in the 1970s, ending the requirement to back paper currency with gold or silver.
When asked whether he had personally visited Fort Knox, Bessent said he had not, but noted that members of his staff, including the U.S. Treasurer, have inspected the facility.
“I haven’t. People, my staff has,” Bessent told the host. “I am happy to say all gold is present and accounted for. The U.S. has the largest pile of gold in the world, over a trillion dollars, at current market value.”
🚨 NOW: Treasury Secretary Scott Bessent announces there is $1 TRILLION in confirmed gold at Fort Knox — the gold is still there
Q: Have you visited Fort Knox?
BESSENT: I am happy to say, all gold is present and accounted for! The US has the LARGEST pile of gold in the world,… pic.twitter.com/qoUlOO4dK9
— Eric Daugherty (@EricLDaugh) July 15, 2026
According to Treasury Department data from June 2026, Fort Knox holds 147,341,858.382 fine troy ounces of gold, representing about 59% of the federal government’s total bullion reserves. The remaining gold is stored at the U.S. Bullion Depository at West Point, the U.S. Mint in Denver, and the Federal Reserve Bank of New York.
Treasury records show no documented withdrawals of gold from Fort Knox since 1974, aside from limited samples removed for testing and verification.
Bessent’s remarks come as questions about the nation’s gold reserves have continued to circulate for years, with skeptics periodically calling for a full public audit of the highly secured Kentucky depository.
The Treasury secretary also said President Donald Trump’s proposed 24-karat commemorative coin, which has been delayed since March 2026, is now being minted after missing its original timeline ahead of the nation’s planned 250th anniversary celebrations.
