Fort Knox: How Much Gold Is in the US Bullion Depository?
Fort Knox is the best-known gold vault in the world: according to the US Treasury, the United States Bullion Depository in Kentucky holds 147,341,858 fine troy ounces of gold, around 4,582.8 tonnes. Hardly any place is the subject of so many rumours – and hardly any has so rarely been entered by outsiders.
What is the US Bullion Depository?
The depository stands on the grounds of the Fort Knox military base in Kentucky. Congress approved its construction in June 1936, and the building was finished in December of the same year. According to the US Mint, construction cost $560,000. Materials included 16,000 cubic feet of granite and 750 tonnes of reinforcing steel.
The first gold delivery arrived on 13 January 1937, from the Philadelphia Mint and the Assay Office in New York. The depository is not a production facility. It is used exclusively for storage.
According to the US Mint, the bars have a standard weight of about 400 ounces, or around 12.4 kg. The Mint says no gold has been moved in or out for many years. Only small samples have been taken for purity tests during audits.
How much gold is in Fort Knox?
The US Treasury publishes the holdings monthly in the “Status Report of U.S. Government Gold Reserve”. As of 31 October 2026, it listed 147,341,858.382 fine troy ounces for Fort Knox. That is around 4,582.8 tonnes.
In total, the US government holds around 261.5 million fine troy ounces, or around 8,133.5 tonnes. Fort Knox is therefore the largest storage site, but not the only one. The figure has not changed for years.
The book value is fixed by law at $42.2222 per ounce. This value dates from 1973 and has nothing to do with the market price.
| Storage site | Fine troy ounces | Tonnes (rounded) |
|---|---|---|
| Fort Knox, Kentucky | 147,341,858 | 4,582.8 tonnes |
| West Point, New York | 54,067,331 | 1,681.7 tonnes |
| Denver, Colorado | 43,853,707 | 1,364.0 tonnes |
| Federal Reserve Bank of New York | 13,376,988 | 416.1 tonnes |
| Mint working stock (coins, blanks) | 2,783,219 | 86.6 tonnes |
Who audits the holdings?
The so-called deep-storage reserves are audited every year. Responsibility lies with the US Treasury’s Office of Inspector General. The most recent report of 12 December 2025 (OIG-26-002) refers to the reporting date of 30 September 2025.
In it, the auditors confirmed that the reported holdings are fairly stated in all material respects. They found no material weaknesses in internal controls. According to the report, the gold is stored in sealed vaults.
Critics consider these annual audits insufficient. They call for a complete physical inventory, with every bar weighed and assayed. No such full count is publicly documented.
Who has been allowed inside Fort Knox?
Fort Knox has a strict rule: no visitors. According to the US Mint, until 1974 there had been only one visitor apart from authorised staff, President Franklin D. Roosevelt.
On 23 September 1974, the Treasury made an exception. Because of rumours that the gold had disappeared, journalists and a congressional delegation were allowed to see the vaults.
Outsiders did not enter the vaults again until 24 August 2017: Treasury Secretary Steven Mnuchin, the Governor of Kentucky, Matt Bevin, and members of Congress.
During the Second World War, Fort Knox also served as a hiding place for documents. The Declaration of Independence, the Constitution and the Bill of Rights were stored there until 1944. The Holy Crown of Hungary was also kept there until it was returned to Hungary in 1978.
What was the 2025 audit debate about?
In February 2025, Fort Knox made headlines again. Elon Musk, then working in the administration’s orbit, suggested a public inspection on X. On 19 February 2025, President Donald Trump announced that they would go to Fort Knox to check whether the gold was still there.
Treasury Secretary Scott Bessent said on the same day that the gold is audited every year and is all there. According to available reports, no public inspection or new full inventory followed.
In Congress there were moves towards more transparency. Representative Thomas Massie introduced the “Gold Reserve Transparency Act”. It provides for an independent audit with a physical check of all US gold reserves. Whether the bill has made progress is not documented.
