(Kitco News) – U.S. Senator Mike Lee (R-Utah) introduced a bill on Wednesday which, if passed, will trigger the first comprehensive audit of America’s gold reserves in decades.The senate version of the Gold Reserve Transparency Act demands a full inventory, audit, and accounting of all transactions involving U.S. federal government gold. It also calls for a new process for refinement of the gold so that it meets global market standards – as the majority of U.S. gold currently does not.
