In a landmark move, France’s Banque de France has successfully repatriated 129 tonnes of gold reserves from the Federal Reserve Bank of New York, a transaction that represents nearly five percent of the country’s total gold stockpile of approximately 2,437 tonnes. This strategic shift not only underscores France’s commitment to securing its assets domestically but also aligns with a growing global trend among central banks to store gold within their national borders.

The repatriation was executed by selling older, non-standard gold bars and purchasing new bullion that meets current international specifications. According to François Villeroy de Galhau, the effort was aimed at replacing older, ‘non-standard’ gold bars with bullion that meets current international specifications.

This transaction generated a substantial profit of €12.8 billion, contributing to a remarkable turnaround for the Banque de France, which reported a net profit of €8.1 billion for 2025, a stark contrast to the €7.7 billion loss it faced the previous year.

The trend of repatriating gold is not unique to France. A recent survey indicated that 59 percent of central banks now prefer to keep their gold within national borders, a significant increase from 41 percent in 2024. This shift reflects a growing sentiment among nations to bolster their financial security amid global economic uncertainties.

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 about two-thirds of its total gold reserves held domestically.

Historically, France has stored a portion of its gold at the Federal Reserve in New York, a practice that dates back to World War II. The recent repatriation marks a significant shift in this long-standing policy, highlighting a broader reassessment of gold storage strategies among central banks worldwide.

As central banks continue to adapt to changing economic landscapes, observers will be watching closely to see how these trends evolve and what further actions may be taken to secure national gold reserves.

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