Former U.S. President Donald Trump once stated that he wanted Elon Musk to go to Fort Knox in Kentucky, the legendary vault that houses the United States' gold reserves, to ensure the gold is still there. This suggestion sparked concerns about the security of the U.S. gold reserves and once again brought Fort Knox into the public eye.
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02-23, 2025Then-Treasury Secretary Scott Besser responded that the Treasury Department conducts annual audits and guarantees that "all the gold is there and accounted for." The U.S. Bullion Depository at Fort Knox has stored the United States' precious metal bullion reserves since 1937, becoming synonymous with security and stringent protection. Besser's remarks aimed to dispel public doubts, emphasizing that the management of gold reserves is regulated and transparent.
Located approximately 56 kilometers south of Louisville, Fort Knox covers 109,000 acres and spans three counties in Kentucky. The military base was initially established during World War I as an artillery training center. In 1932, it was designated as a permanent facility and has since been known as Fort Knox. The historic Fort Knox is not only a center for gold reserves but also a testament to the development of American military power.
According to the U.S. Mint, the current gold holdings at the U.S. Bullion Depository at Fort Knox are 147.3 million ounces (slightly more than 4.17 metric tons). Approximately half of the Treasury's stored gold is kept at Fort Knox. The Mint states that only a very small amount of gold is removed for testing the purity of the gold during periodic audits. Apart from these samples, no gold has been transferred to or from the depository for many years. The book value of the gold is $42.22 per ounce.
The security measures at Fort Knox are extremely tight. Only a few people know the actual structure and contents of the facility, and no single person knows all the procedures to open the vault. Publicly available information indicates that the facility was built in 1936, using 16,000 cubic feet of granite, 4,200 cubic yards of concrete, 750 tons of reinforcing steel, and 670 tons of structural steel. The facility is heavily guarded, having broken its strict no-visitor policy only three times. Fort Knox's reputation for impregnability has also earned it a place in popular culture, such as in cartoons and movies.
