France’s Banque de France has shifted 129 tonnes of gold reserves from New York to Paris, reflecting a growing trend among central banks to store gold domestically.
France’s Banque de France has recently shifted 129 tonnes of gold reserves from the Federal Reserve Bank of New York to Paris, marking a significant move that accounts for nearly five percent of the nation’s total gold reserves. This operation, which involved selling older non-standard bars and purchasing new compliant bullion in Europe, has generated a profit of €12.8 billion.
Currently, France’s entire gold stockpile stands at approximately 2,437 tonnes, primarily stored in La Souterraine. This strategic shift is part of a broader trend among central banks worldwide, with 59 percent now preferring to keep their gold within national borders, a notable increase from 41 percent in 2024.
François Villeroy de Galhau, 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 move not only enhances the quality of France’s gold reserves but also aligns with global practices as countries reassess their gold storage strategies.
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. However, this recent repatriation reflects a shift in priorities, as nations increasingly seek to secure their assets domestically.
In comparison, Germany continues to store around 1,236 tonnes, or roughly 37 percent of its reserves, in US vaults. Meanwhile, 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.
The Banque de France also reported a net profit of €8.1 billion for 2025, a significant turnaround from a loss of €7.7 billion the previous year. This financial recovery may further bolster confidence in the country’s gold management strategies.
As central banks continue to adapt to changing economic landscapes, observers will be watching closely to see how these trends evolve. The increasing preference for domestic gold storage may reshape the global gold market and influence future monetary policies.
Details remain unconfirmed regarding any further shifts in France’s gold strategy, but the current developments signal a proactive approach to asset management in an uncertain economic environment.
