In a significant move, the Banque de France has successfully shifted 129 tonnes of gold reserves from the Federal Reserve Bank of New York to Paris. This transaction represents nearly five percent of France’s total gold reserves, which stand at approximately 2,437 tonnes.

The repatriation was executed by selling older, non-standard gold bars and purchasing new compliant bullion in Europe, generating a remarkable profit of €12.8 billion. François Villeroy de Galhau, the governor of the Banque de France, stated, “The effort was aimed at replacing older, ‘non-standard’ gold bars with bullion that meets current international specifications.”

This strategic shift comes as central banks worldwide increasingly prefer to store gold domestically. Recent data indicates that 59 percent of central banks now favor keeping their gold within national borders, a notable rise from 41 percent in 2024.

Historically, France has stored a portion of its gold at the Federal Reserve in New York, a practice dating back to World War II. The recent repatriation aligns with a broader trend, as countries like India have also taken steps to bring their gold reserves home, with over 274 tonnes repatriated since March 2023.

In terms of financial performance, the Banque de France reported a net profit of €8.1 billion for 2025, a stark recovery from a loss of €7.7 billion the previous year. This turnaround underscores the financial benefits of the recent gold transactions.

Germany, in contrast, continues to store around 1,236 tonnes, or roughly 37 percent of its reserves, in US vaults, highlighting differing national strategies regarding gold storage.

As the trend of gold repatriation continues, observers are closely watching how this will impact global gold markets and national security strategies. The shift in France’s gold reserves is a clear indicator of changing attitudes among central banks worldwide.

Details remain unconfirmed regarding future plans for further repatriation or adjustments in gold storage policies by other nations. However, the momentum towards domestic gold storage is likely to persist as countries reassess their financial strategies in an evolving global landscape.

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