{"id":4754,"date":"2025-02-21T22:18:48","date_gmt":"2025-02-21T22:18:48","guid":{"rendered":"https:\/\/findbullionprices.com\/blog\/?p=4754"},"modified":"2026-06-03T23:52:38","modified_gmt":"2026-06-03T23:52:38","slug":"scott-bessent-confirms-fort-knox-gold-stonex-us-inflows-exceed-2000-tons-in-2-months","status":"publish","type":"post","link":"https:\/\/findbullionprices.com\/blog\/scott-bessent-confirms-fort-knox-gold-stonex-us-inflows-exceed-2000-tons-in-2-months\/","title":{"rendered":"Scott Bessent Confirms Fort Knox Gold, StoneX: US Inflows Exceed 2,000 tons in 2 Months"},"content":{"rendered":"\n<p>In a recent interview on <em>Bloomberg Surveillance<\/em> on February 20, 2025, U.S. Treasury Secretary Scott Bessent addressed speculation surrounding the nation&#8217;s gold reserves, firmly stating, &#8220;All the gold is there.&#8221; <\/p>\n\n\n\n<p>His comment came in response to questions about potential plans to revalue U.S. gold holdings\u2014currently marked at <a href=\"https:\/\/findbullionprices.com\/blog\/gold-drain-from-london-to-new-york-lbma-defaults-on-gold-deliveries\/\">$42 per ounce since 1973<\/a>, far below the market price of approximately $2,950 per ounce in February 2025\u2014or to physically inspect Fort Knox, the famed depository in Kentucky. <\/p>\n\n\n\n<p>Bessent dismissed any immediate need to visit the facility, noting that annual audits are conducted, with the most recent <a href=\"https:\/\/x.com\/BloombergTV\/status\/1892561717193785641\">audit in September 2024<\/a>. He extended an invitation to U.S. Senators to arrange a visit to the vaults through his office if they wish to verify the reserves themselves.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Bessent Says the Gold Is in Fort Knox\" width=\"1200\" height=\"675\" src=\"https:\/\/www.youtube.com\/embed\/lZBGsMmyf3o?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>His remarks push back against skepticism from President Donald Trump and Elon Musk, who have hinted at auditing Fort Knox as part of broader fiscal transparency efforts tied to the Department of Government Efficiency (DOGE). <\/p>\n\n\n\n<p>Bessent also clarified that revaluing gold reserves to fund a sovereign wealth fund, which could theoretically generate a $750 billion windfall, is &#8220;not what I had in mind.&#8221; Instead, he focused on disinflationary policies, such as lowering energy costs and deregulation, over drastic monetary shifts. <\/p>\n\n\n\n<p>Whether his assurances will quell calls for a public audit remains an open question as gold continues to draw attention amid global economic uncertainty.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">US Imported More Than 2,000 Tons of Gold<\/h2>\n\n\n\n<p>In a recent <a href=\"https:\/\/www.stonex.com\/en\/media-room\/in-the-news\/2025-02-14-philip-smith-gold-tariffs-sky-news-arabia\/\" target=\"_blank\" rel=\"noreferrer noopener\">news segment on Sky News Arabia<\/a>, StoneX Group Chief Executive Phillip Smith discussed concerns in the gold market, gold flows and the uncertainty surrounding Trump&#8217;s reciprocal tariffs.<\/p>\n\n\n\n<p>\u201cWhat you\u2019re now seeing is an actual disconnect between New York\u2026futures contracts, and London\u2026OTC physical market,\u201d Smith explained.  This divergence is fueled by concerns mounting over whether tariffs on various products could be introduced at rates of 10%, 20%, or even 25%.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"500\" height=\"500\" src=\"https:\/\/findbullionprices.com\/blog\/wp-content\/uploads\/2024\/04\/central-bank-vault-gold-bars.jpg\" alt=\"\" class=\"wp-image-2770\" style=\"width:456px;height:auto\"\/><\/figure><\/div>\n\n\n<p>Smith also noted a substantial increase of physical gold moving into the United States in the past two months. \u201cWhat we\u2019ve seen in the past 7, 8 weeks in the market was probably one of the largest physical movements of gold from all over the world into the US. We estimate over 2,000 tons.\u201d<\/p>\n\n\n\n<p>Smith believes that the ongoing ambiguity around tariff policies is having a \u201cdisproportionate and distorting effect on <a href=\"\/gold\/\">gold prices<\/a>.\u201d<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Watch the video of Secretary Scott Bessent addressing speculation surrounding the nation&#8217;s gold reserves, firmly stating, &#8220;All the gold is there.&#8221; <\/p>\n","protected":false},"author":1,"featured_media":868,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[710,545,1071],"tags":[1369,1370,702],"class_list":["post-4754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-central-banks","category-news","category-us-treasury","tag-fort-knox-gold","tag-scott-bessent-interview","tag-us-treasury"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - 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