The Gold Reserve Transparency Act of 2025, S.3218, was introduced in the Senate by Sen. Mike Lee, R-Utah, “to provide for the first credible audit of gold owned by the United States in decades, to upgrade the purity of gold to meet global market standards, and to conduct subsequent audits every five years.”

The House version, H.R. 3795, was previously introduced June 6, 2025, by Rep. Thomas Massie, R-Kentucky.

“For over half a century, there has not been a comprehensive audit of America’s gold reserves,” says Lee. “Americans should know whether their literal national treasure is safe and accurately accounted for. That means passing the Gold Reserve Transparency Act, opening Fort Knox, U.S. Mint Facilities, and the Federal Reserve Bank of New York to an audit, and then making the results public.”

While Fort Knox holds 147.3 million ounces of gold — the bulk of the nation’s gold reserves — smaller amounts are also held in other U.S. Mint-supervised facilities.

The status of the U.S. government gold reserves is maintained by the Treasury Department’s Bureau of the Fiscal Service at https://fiscal.treasury.gov/reports-statements/gold-report/

The Gold Reserve Transparency Act would require:
* A complete audit and inventory of all gold reserves owned by the United States within nine months of enactment, followed by subsequent audits every five years conducted by an external third-party auditor.
* An assessment of the adequacy of measures for ensuring the physical security of these reserves.
* A full accounting of any encumbrances related to these reserves, including those arising from leases, swaps, or similar transactions that have occurred in the past 50 years.
* A comprehensive account of all gold reserves in which the U.S. Government, including the Federal Reserve, has either a direct or indirect interest
* A publicly available report by the Comptroller General to Congress and the Secretary of the Treasury within three months of completing the audit.

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