How Much Is the Gold in Fort Knox Worth?

Fort Knox, officially known as the United States Bullion Depository, stands as a prominent symbol of national wealth and security. Its imposing structure in Kentucky has long captured the public’s imagination, often featured in popular culture as an impenetrable vault. Many are curious about the contents within its fortified walls, particularly the amount and value of the gold reserves it holds. This curiosity extends to understanding how these reserves are accounted for and what role they play in the nation’s financial framework.

The Gold Quantity at Fort Knox

The U.S. Bullion Depository at Fort Knox holds a substantial portion of the United States’ gold reserves. Official figures from the U.S. Department of the Treasury indicate that Fort Knox currently stores approximately 147.3 million troy ounces of gold bullion, equivalent to roughly 4,583 metric tons. This quantity represents a significant portion of the total U.S. gold reserves, which collectively amount to about 8,133.46 metric tons across various depositories. The gold is primarily in the form of standard gold bars, each weighing approximately 400 troy ounces.

Official Valuation of U.S. Gold Reserves

The U.S. government values its gold reserves using a specific accounting method that differs from current market prices. The U.S. Treasury records its gold at a statutory rate of $42.2222 per troy ounce. This valuation rate has remained constant since it was established by law in 1973. This statutory price determines the book value of the nation’s gold assets for official accounting purposes. The official book value does not fluctuate with daily changes in the gold market price.

Calculating the Market Value

The market value of gold at Fort Knox is determined by the current prevailing price per troy ounce. Unlike the fixed statutory rate, the market price of gold fluctuates continuously. As of August 22, 2025, the market price of gold is approximately $3,375 per troy ounce.

The quantity of gold in Fort Knox is multiplied by this current market price to calculate its market worth. Using the reported 147.3 million troy ounces, the calculation is 147,300,000 troy ounces multiplied by $3,375 per troy ounce. This results in an approximate market value of over $497.1 billion. This figure changes daily with market fluctuations.

Ownership and Purpose of U.S. Gold

The gold stored at Fort Knox and other U.S. depositories is owned by the U.S. Department of the Treasury. It is held as an asset of the U.S. government, forming part of the nation’s financial reserves. While the Federal Reserve often handles the physical custody of some gold, it does not own the gold itself; it holds it in trust for the Treasury. These gold reserves help maintain trust in the U.S. dollar and overall financial stability. Although the U.S. dollar is no longer directly backed by gold, the reserves provide a tangible asset base that reassures the public and international markets about the nation’s economic strength.