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Gold Reserve Transparency Act of 2025
To provide for the first true audit of gold owned by the United States in more than 65 years and to conduct subsequent audits every 5 years.
Summary
This bill requires the Government Accountability Office to hire an independent auditor to conduct a comprehensive audit of all U.S. gold reserves within nine months of enactment, and then every five years thereafter. The audits would include a full inventory and assay of gold reserves at all locations, analysis of physical security measures, and accounting of all gold transactions and encumbrances from the past 50 years, including gold held by foreign central banks and international organizations. Results must be reported to Congress and made public on the internet within three months of completion, with redactions only permitted for physical security details. The GAO would have full access and subpoena authority to obtain all depositories, records, and information needed to complete the audits.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Massie, Thomas [R-KY-4] (R-KY)
4 cosponsors
Money behind the sponsor
Top reported contributors to Thomas Massie’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- CREST INSURANCE $6,600
- ORANGE COUNTY ASSOCIATES, INC. $6,600
- TRUE LEGACY HOMES $6,600
- Y COMBINATOR $6,600
- SAMNICO INC $6,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Thomas Massie → · Outside spending →
Actions (2)
- Jun 6, 2025 Referred to the House Committee on Financial Services. · house
- Jun 6, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
June 6, 2025
Mr. Massie (for himself, Mr. Davidson, Mr. McDowell, and Mr. Nehls) introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To provide for the first true audit of gold owned by the United States in more than 65 years and to conduct subsequent audits every 5 years.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Gold Reserve Transparency Act of 2025”.
SEC. 2. ASSAY, INVENTORY, AND AUDIT OF GOLD RESERVES.
(a) In General.—The Comptroller General of the United States shall contract with a qualified, independent, third-party, external auditor to conduct and complete, not later than nine months after the date of enactment of this Act, and every 5 years thereafter—
(1) a full assay, inventory, and audit of all gold reserves, including any gold in “deep storage”, of the United States at the place or places where such reserves are kept;
(2) an analysis of the sufficiency of the measures taken to ensure the physical security of such reserves;
(3) a full accounting of any and all encumbrances, including those due to lease, swap, or similar transactions presently in existence or entered into at any time during the past 50 years with respect to the gold reserves;
(4) a full accounting of any and all sales, purchases, disbursements, or receipts at any time during the past 50 years—whether directly or indirectly undertaken—with respect to the gold reserves, including the specific terms and parties involved in such transactions; and
(5) a full accounting of all gold in which the U.S. Government (including the Board of Governors of the Federal Reserve System or any other Federal agency) presently has a direct or indirect interest, including gold that may be held by third parties, including, for example, the Bank for International Settlements, the International Monetary Fund, the Exchange Stabilization Fund, any foreign central bank, or any other party, public or private.
(b) Report.—Not later than 3 months after the completion of each assay, inventory, audit, analysis, and accounting required under subsection (a), the Comptroller General shall issue a report to the Congress and the Secretary of the Treasury containing all results, findings, and determinations made in carrying out the assay, inventory, audit, analysis, and accounting, and promptly make such report (together with copies of all source materials relied upon) available to the public on the internet. No redactions shall be permitted except with respect to underlying details contained in the analysis completed under subsection (a)(2) dealing only with physical security.
(c) GAO Access.—For purposes of carrying out this Act, the Comptroller General, and any external auditor contracting with the Comptroller General under subsection (a), shall have full access (enforceable by the Comptroller General by subpoena authority) to any depository or other public or private facility where such reserves are kept or where any records are kept that are necessary to carry out this Act.
(d) Information Made Available by Treasury.—The Secretary of the Treasury (and all other Federal agencies, including the Board of Governors of the Federal Reserve System) shall make available, without any redactions, to the Comptroller General, for purposes of carrying out this Act, all books, accounts, records, reports, files, correspondence, memoranda, papers, or any other document, tape, or written, audio, or digital record pertaining to the assay, inventory, audit, analysis, and accounting required under subsection (a), as determined by the Comptroller General. <all>
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