S. 3218 — Gold Reserve Transparency Act of 2025

This section directs the Comptroller General of the United States to contract with a qualified, independent third-party auditor to conduct, not later than nine months after enactment and every five years thereafter, (1) a full assay, inventory, and audit of all U.S. gold reserves (including deep storage) at their locations; (2) an analysis of physical security measures; (3) a full accounting of encumbrances (e.g., leases, swaps) on such reserves over the past 50 years; (4) a full accounting of all sales, purchases, disbursements, or receipts involving such reserves over the past 50 years, including terms and parties; and (5) a full accounting of all gold in which the U.S. government has a direct or indirect interest (including gold held by third parties such as the Bank for International Settlements, International Monetary Fund, Exchange Stabilization Fund, or foreign central banks). Within three months of each audit's completion, the Comptroller General must submit a report with all results, findings, source materials, and determinations to Congress and the Secretary of the Treasury and make it publicly available online, with no redactions except for physical security details. The section further grants the Comptroller General and auditor full access (enforceable by subpoena) to relevant facilities and records and requires the Department of the Treasury, Federal Reserve, and other agencies to provide all pertinent documents without redactions.

This section directs the Secretary of the Treasury to upgrade the U.S. gold reserves to comply with marketplace good delivery standards (i.e., weight and purity standards for gold bars), as established on the date of enactment, by not later than five years after enactment. The section authorizes the Treasury to contract, as necessary, with qualified U.S.-based refiners and logistics firms to meet this requirement.