President Donald Trump announced that Elon Musk will be inspecting Fort Knox, the legendary gold depository in Kentucky, to verify the presence of the nation’s bullion reserves. The announcement, made during a speech to Republican governors, comes despite Treasury Secretary Scott Bessent’s reassurance that annual audits confirm the reserves remain intact.
Fort Knox: A Symbol of Security
Since 1937, the United States Bullion Depository at Fort Knox has stored precious metal reserves and become synonymous with security. Besides safeguarding gold, the facility is home to the Army’s Human Resources Command Center and hosts its largest annual training event.
“We’re going to open the doors and inspect Fort Knox,” Trump stated. “I don’t want to find the cupboards bare.”
A Historic Military Site
Located 35 miles south of Louisville, Fort Knox spans 109,000 acres across Bullitt, Hardin, and Mead counties. Established during World War I as Camp Knox, it became a permanent military installation in 1932. The first shipment of gold arrived in 1937 under the guard of the 1st Cavalry Regiment.
During World War II, the Army formed the Armored Force at Fort Knox, training thousands of soldiers in tank warfare. For nearly 80 years, it was known as the “Home of Cavalry and Armor” before the Armor Center relocated to Fort Benning in 2005. Today, Fort Knox serves as a critical training and administrative hub for the U.S. Army.
How Much Gold Is in Fort Knox?
According to the U.S. Mint, Fort Knox holds approximately 147.3 million ounces of gold, accounting for about half of the Treasury’s stored reserves. The gold has a book value of $42.22 per ounce. While small amounts have been removed for purity testing, no significant transfers have occurred in decades.
Unparalleled Security Measures
Fort Knox is renowned for its impenetrable security. The facility was constructed 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 exact security protocols remain classified, with only a select few aware of the full vault-opening procedures.
The depository has broken its strict no-visitor policy only three times in history. In 1974, following rumors of missing gold, a group of journalists and congressional delegates were permitted inside. The vaults were briefly reopened in 2017 for Treasury Secretary Steve Mnuchin, Kentucky Governor Matt Bevin, and congressional representatives. Current Treasury Secretary Scott Bessent has offered to arrange future inspections for interested senators.
Fort Knox in Popular Culture
The mystery and security surrounding Fort Knox have cemented its place in popular culture. The depository was humorously referenced in a 1952 Looney Tunes cartoon featuring Bugs Bunny and Yosemite Sam. It also played a central role in the 1964 James Bond thriller Goldfinger and appeared in the 1981 comedy Stripes, partially filmed at the site.
As speculation about the nation’s gold reserves continues, Trump’s directive to inspect Fort Knox may spark further intrigue into one of America’s most secure facilities.