Trump To Verify The Gold In Fort Knox. Now What?

Feb 20, 2025, 1:03 PM EST

At the time of writing, gold continues its relentless climb, hitting fresh all-time highs and edging closer to the $3,000 per ounce mark. Silver is also gaining momentum, fueled by safe-haven demand, supply constraints, and shifting market dynamics. Investors are watching closely as geopolitical tensions escalate—rising trade tariff threats, growing friction between the U.S. and Europe, and uncertainty around U.S.-Ukraine relations are all adding to the market’s nervous energy.

This week, the gold market has been shaken by an unexpected development—Donald Trump has announced plans to visit Fort Knox to verify the U.S. gold reserves. His decision follows calls from Elon Musk to conduct a full audit, questioning whether the gold is really there.

Fort Knox has long been shrouded in mystery. The last official audit of its gold reserves was decades ago, and speculation has only grown over time. Now, with gold hitting all-time highs and concerns about financial stability mounting, Trump has made it clear: if the gold isn’t there, he’s going to be “very upset.” But what does this really mean? Is this just political theatre, or could it signal something much bigger?

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About Author

Dave Russell

David is the CEO of GoldCore. Until Summer 2023 he was the Director of Marketing and Communications, responsible for all marketing and communications strategies and branding. David joined GoldCore in 2008 as Director of Business Development and later took over as Director of Marketing and Communications in 2020. Prior to this Dave managed and operated his own Marketing Agency and completed multiple coaching qualifications. "Working for GoldCore gives you a fantastic lens through which to view global financial and geopolitical developments. I am very proud to be part of a company that contributes to increasing investors understanding of these developments." When he’s not at work, David is passionate about sailing and has completed the ‘Round Ireland Yacht Race’ twice.