President Donald Trump has announced plans to have entrepreneur Elon Musk inspect the American gold reserves stored at Fort Knox in Kentucky. Treasury Secretary Scott Bessent has confirmed that annual audits ensure all gold is present and accounted for at the United States Bullion Depository.
Established in 1937, Fort Knox is renowned for safeguarding precious metal bullion reserves. Apart from its role in protecting gold, the facility serves as the Army's human resources command center and hosts the Army's largest annual training event.
Located 35 miles south of Louisville, Fort Knox spans 109,000 acres across three Kentucky counties. Originally known as Camp Knox during World War I, it became a permanent installation in 1932 and received its current name in 1937 when the first gold shipment arrived under the guard of the 1st Cavalry Regiment.
Currently, Fort Knox houses 147.3 million ounces of gold, representing about half of the Treasury's stored gold. The depository's security measures are stringent, with limited personnel having knowledge of the facility's structure and procedures for accessing the vault.
While only small quantities of gold have been removed for purity testing during audits, the overall reserves have remained untouched for many years. The last public viewing of the gold reserves occurred in 2017 when Treasury Secretary Steve Mnuchin visited with Kentucky officials and congressional representatives.
Fort Knox's reputation for impenetrability has made it a popular cultural reference, appearing in various media such as cartoons and movies like the James Bond classic 'Goldfinger.' Despite occasional public viewings, the depository remains a symbol of security and stability for the nation's gold reserves.
