Congress Initiates First Gold Reserve Audit in 65 Years

On June 6, 2025, a significant legislative move was initiated by members of Congress who introduced a bill calling for the first comprehensive audit of U.S. gold reserves in over 65 years. This initiative, spearheaded by Representative Thomas Massie, aims to thoroughly examine the federal gold holdings, including those stored in 'deep storage' facilities. The bill reflects a growing concern among lawmakers about the transparency and accountability of the nation's gold reserves, which have not undergone a full audit since the 1950s.

The proposed audit is set to cover all aspects of the U.S. gold reserves, from their physical condition to their storage locations. This move comes amid increasing public and political interest in the management of national assets, particularly in the context of recent discussions about establishing a Strategic Bitcoin Reserve. Senator Cynthia Lummis has been vocal about the potential benefits of integrating digital assets into the national reserve strategy, suggesting that a thorough audit of traditional gold reserves could offer valuable insights for future policy decisions.

The introduction of this bill underscores a broader trend in legislative efforts to enhance the oversight of federal assets. By demanding a comprehensive audit, lawmakers are seeking to ensure that the U.S. gold reserves are accurately accounted for and properly managed. This initiative could set a precedent for future audits of other federal assets, promoting greater transparency and accountability in government operations.

The potential impact of this audit extends beyond the immediate scrutiny of gold reserves. It could influence public trust in the government's management of national assets and provide a foundation for future discussions on the role of digital currencies in the national reserve strategy. As the bill progresses through Congress, it will be closely watched by policymakers, economists, and the public, who are eager to see the results of this long-overdue audit.