France Has Moved All Its Gold Out of the United States The Banque de France has completed a full withdrawal of its gold reserves from the Federal Reserve Bank of New York. Between July 2025 and January 2026, 129 tonnes of French gold stored in New York were sold and replaced with equivalent bullion purchased in Europe. All of France’s 2,437 tonnes of gold now sit in Paris. Every last bar. The timing is hard to ignore. With Trump tearing up the postwar rulebook and transatlantic trust at historic lows, France has quietly made sure its financial bedrock is no longer stored on American soil. The operation generated a 13 billion euro windfall on the back of record-high gold prices, turning a 7.7 billion euro loss in 2024 into an 8.1 billion euro profit in 2025. Macron essentially got paid to exit. And France is not alone. Germany still holds 1,236 tonnes of gold at the Federal Reserve, roughly 37 percent of its total reserves. The pressure to bring it home is building fast. Michael Jäger, head of the Association of German Taxpayers, has been blunt: Trump is unpredictable, does everything to generate revenue, and Germany’s gold is no longer safe in the Fed’s vaults. That is the mainstream conversation in Berlin. France has already acted. Germany is watching and calculating. The age of trusting Washington with Europe’s gold may be quietly coming to an end. As absolutely everything else. Gandalv / @Microinteracti1
