S. 3218: Gold Reserve Transparency Act of 2025

The Gold Reserve Transparency Act of 2025 aims to increase the transparency and accountability of the United States' gold reserves. Here are the key components of the bill:

Full Audit of Gold Reserves

The bill mandates that an independent auditor, contracted by the Comptroller General of the United States, conduct a comprehensive audit of all U.S. gold reserves. This audit must be completed within nine months of the bill's enactment, and subsequently every five years. The audit will include the following:

• A complete assay, inventory, and assessment of all gold, including those in deep storage.
• An evaluation of the security measures in place to protect the gold reserves.
• A full accounting of any encumbrances related to the gold, such as leases or swaps that have occurred over the last 50 years.
• A detailed record of all transactions involving the gold reserves, including sales, purchases, and disbursements, over the past 50 years.
• An accounting of all gold in which the U.S. government has a direct or indirect interest, including gold held by various international organizations.

Reporting Requirements

Three months after completing each audit, the Comptroller General is required to submit a report to Congress and the Secretary of the Treasury detailing the results of the audit. This report must be published online without redactions, except for information regarding the physical security of the gold.

Access for Auditors

The bill grants the Comptroller General and the contracted auditors full access to any facilities where the gold is stored or where relevant records are kept, with the ability to enforce this access by subpoena if necessary.

Information Sharing

The Secretary of the Treasury, along with other federal agencies, must provide comprehensive documentation and records to assist in the execution of the audit and related assessments, without any redactions.

Gold Quality Standards

Within five years of the bill's enactment, the Treasury must upgrade the U.S. gold reserves to ensure they meet current good delivery standards, which include standards for weight and purity. The Treasury will have the authority to contract with U.S.-based refiners and logistics companies to achieve this goal.

Relevant Companies

None found.