France Gold Reserves See Significant Shift with 129 Tonnes Repatriated
France has made headlines with the repatriation of 129 tonnes of gold reserves from the Federal Reserve Bank of New York to Paris, a move that accounts for nearly five percent of the nation’s total gold reserves. This strategic shift not only enhances France’s gold stockpile, which stands at approximately 2,437 tonnes, but also reflects a growing trend among central banks worldwide to store gold within their own borders.
According to the Banque de France, the transactions involved selling older, non-standard gold bars and purchasing new compliant bullion in Europe. “The effort was aimed at replacing older, ‘non-standard’ gold bars with bullion that meets current international specifications,” stated François Villeroy de Galhau, the Governor of the Banque de France.
This repatriation has proven financially beneficial, generating a profit of €12.8 billion. The Banque de France reported a net profit of €8.1 billion for 2025, a significant turnaround from a loss of €7.7 billion the previous year.
The trend of repatriating gold is not unique to France. Recent data shows that 59 percent of central banks now prefer to keep their gold within national borders, up from 41 percent in 2024. This shift underscores a growing sentiment among nations to secure their gold reserves domestically.
Germany, for instance, continues to store around 1,236 tonnes, or roughly 37 percent of its reserves, in US vaults, while India has repatriated more than 274 tonnes of gold since March 2023, with the Reserve Bank of India now holding about two-thirds of its total gold reserves domestically.
Historically, France’s practice of storing a portion of its gold at the Federal Reserve dates back to World War II, a strategy that has evolved as global economic conditions change.
As central banks worldwide reassess their gold storage strategies, observers will be keen to see how this trend develops and whether more nations will follow France’s lead in repatriating their gold reserves. Details remain unconfirmed regarding further actions by the Banque de France in this regard.
