In a significant financial move, the Banque de France has transferred its remaining gold reserves from the United States back to its domestic vaults in Paris. This decision comes at a time when global gold prices are experiencing a strong upward surge, allowing the bank to secure substantial gains.
Previously, around 5% of France’s gold reserves were stored in highly secure vaults managed by the Federal Reserve Bank of New York. These underground facilities in Manhattan are considered among the safest in the world for storing precious metals.
However, the French central bank has now opted to bring this gold back home and replace it with equivalent bullion stored within France. This strategic repositioning is not just about logistics—it’s a calculated financial decision.
By taking advantage of the recent rally in gold prices, Banque de France has reportedly recorded a foreign exchange gain of approximately €11 billion. This gain has dramatically improved its financial position, turning a previous loss of €2.9 billion into a net profit of €8.1 billion.
The move reflects a broader trend among central banks globally, which are increasingly focusing on strengthening domestic control over gold reserves while also benefiting from favorable market conditions.
Experts believe this step enhances both financial security and operational flexibility for France, especially during uncertain global economic times.
