8.19.26 - Aggressive upside predictions for metals

8.19.26 - Aggressive upside predictions for metals

Gold last traded at $4,523 an ounce. Silver at $67.01 an ounce.

Rand Paul Goes To Fort Knox To Verify That US Gold Stockpile Still Exists -ZeroHedge

In September 1974, amid public and congressional concerns, a high-profile inspection occurred at the U.S. Bullion Depository at Fort Knox. In a rare exception to the "no visitors" policy, members of Congress and the press were invited in.

This was followed immediately by a special audit conducted by the General Accounting Office (now the Government Accountability Office) in cooperation with Treasury auditors. It covered roughly 21% of the gold bars stored there at the time and found that the holdings matched the depository records. Since that event, there has been no independent audit of federal gold stores. The contents of Fort Knox has remains a mystery.

In 2024, the US treasury Department stated that Fort Knox held 4580 metric tons of gold in the vaults, but many fiscal conservatives have been skeptical. It makes sense to be suspicious; why would the federal government avoid independent audits for over 50 years unless there's some kind of problem?

The return of Donald Trump to the White House in 2025 presented a rare opportunity for the public to press for verification that Fort Knox is, in fact, still holding gold. We are seeing some indication that the Trump Administration is taking these concerns seriously, with Senator Rand Paul being given access to Fort Knox vaults last week.