Bessent says Fort Knox gold intact amid debt debate

US Treasury Secretary Scott Bessent said the nation’s gold reserves at Fort Knox are fully accounted for, calming speculation over missing bullion but also reigniting a broader debate about revaluing U.S. gold holdings. The article frames the issue as increasingly relevant amid rising borrowing costs and a climbing national debt. Supporters argue the Treasury’s gold is still booked at a statutory price far below market value and that a higher official valuation could strengthen the federal balance sheet without selling gold. Critics counter that even roughly $1 trillion in gold would only cover about a year of interest on the debt, so revaluation would not solve the underlying fiscal problem. The news is supportive for gold sentiment in the sense that it reinforces the strategic importance of bullion, though it does not indicate immediate demand-driven price pressure.