According to reports, on May 10 President Trump reiterated his desire to visit Fort Knox in Kentucky to verify the gold reserves held there, previously expressing suspicion that “some people” may have stolen gold. Fort Knox holds approximately 147 million ounces of gold, representing 56% of U.S. official gold reserves, currently valued at around $680 billion.
The Federal Reserve Board released a research paper in August 2025 titled “Official Reserve Revaluations: The International Experience,” examining how governments can revalue gold on accounting books at market prices to generate available cash without selling physical gold. The U.S. Treasury’s 261.5 million ounces of gold are currently valued at the 1973 statutory price of $42.22 per ounce (totaling approximately $11 billion). At current gold prices of around $4,700 per ounce, a complete revaluation would generate over $1.2 trillion in accounting gains. U.S. Treasury Secretary Bessent mentioned in 2025 the need to “mobilize assets on the U.S. balance sheet,” though he later expressed caution about immediate revaluation.
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