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119-s-3218119th CongressWALLET

Gold Reserve Transparency Act of 2025

Sponsored By: Senator Lee, Mike [R-UT]

Introduced

Summary

Independent audits and public transparency of U.S. gold reserves. This bill would require the Comptroller General to hire a qualified, independent auditor to complete a full assay and inventory within nine months and again every five years. It would also require Treasury to upgrade stored gold to current market "good delivery" weight and purity standards within five years and allow Treasury to contract U.S. refiners and secure logistics firms to do the work.

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  • Families and the general public would get searchable audit reports and source materials posted online after each audit. Only narrowly defined physical security details may be redacted and reports must be delivered to Congress within 3 months of audit completion.
  • Federal agencies, including the Treasury and the Board of Governors of the Federal Reserve System, would have to provide unredacted books, records, and correspondence for the audit on demand.
  • Depositories and storage facilities would have to give the Comptroller General and contracted auditors full access to reserves and records, backed by subpoena authority.
  • U.S. refiners and secure logistics firms could see new federal contracts to bring gold holdings up to expected weight and purity standards.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Public audits of U.S. gold

This bill would require the Comptroller General to hire an independent auditor to check all U.S. gold. The first audit would finish within 9 months of enactment and audits would repeat every 5 years. Audits would include assays, inventories, security reviews, and a 50-year accounting of sales, swaps, leases, and receipts. Federal agencies, including the Federal Reserve, would have to give auditors full, unsubstituted access to vaults and records, with subpoena authority to enforce access. The Comptroller General would send a report to Congress and Treasury within 3 months and publish the report and source materials online. Only detailed physical security facts could be redacted.

Upgrade U.S. gold to market standards

This bill would require the Treasury to upgrade U.S. gold bars to meet marketplace "good delivery" weight and purity standards within 5 years. The Treasury could contract with qualified refiners and secure logistics firms located in the United States to do the refinishing and secure transport. This could create contracting opportunities and revenue for U.S. refiners and logistics firms while imposing an operational requirement and likely costs on the Treasury. Typical households would not directly receive payments from this change.

Sponsors & CoSponsors

Sponsor

Lee, Mike [R-UT]

UT • R

Cosponsors

  • Sen. Paul, Rand [R-KY]

    KY • R

    Sponsored 12/2/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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