Trump Seeks to ‘Knock on the Vault Door’ at Fort Knox

Former president Donald Trump told Sharyl Attkisson on May 10 that he wants to visit the United States Bullion Depository at Fort Knox to verify that the nation’s gold reserves remain in place. He said he plans to “knock on the vault door” and hopes to make the trip “sometime,” without announcing a date or a formal inspection plan.

The Fort Knox depository in Kentucky holds roughly 147 million ounces of gold, the Treasury reports, representing about 59% of official U.S. holdings. At current market prices, those bars are worth several hundred billion dollars. The last public audit involving outside observers took place in 1974.

Treasury Secretary Scott Bessent has maintained that annual internal verifications account for every bar and has invited members of Congress to inspect the holdings. In February 2025 he told reporters that there is no need for a separate public inspection, adding, “All the gold is there.”

Representative Thomas Massie introduced HR 3795, the Gold Reserve Transparency Act of 2025, which would require a public audit of U.S. gold reserves. Massie said the bill would provide “the full disclosure President Trump seeks.” The measure is currently stalled in committee.

An initiative from the Department of Government Efficiency that suggested a renewed inspection has not issued further updates. Trump’s May 10 remarks did not confirm a new audit, a visit timetable, or details about who would conduct or supervise any inspection.

Market reaction was limited. Analysts noted that talk of a public inspection can affect safe-haven assets in theory, but no measurable change in gold prices followed the interview.

Supporters of a public audit say it would allow independent verification and increase transparency. Opponents point to existing internal checks and the logistical and security challenges of allowing outside observers into a fortified military facility. For now, a high-profile inspection has not been scheduled and government officials continue to rely on existing audit practices.