Bank of France Completes Gold Repatriation from US

The Bank of France has completed the repatriation of its remaining gold reserves from the United States, selling 129 tons held at the Federal Reserve Bank of New York and replacing them with modern-standard bars stored in Paris, officials announced. The operation, conducted between July 2025 and January 2026, generated a profit of 12.8 billion euros, equivalent to about 14.8 billion dollars, for the central bank.

This move marks the first time in roughly a century that France holds none of its gold abroad, consolidating its entire 2,437-ton reserve, the world's fourth largest, in domestic vaults. The bank executed 26 transactions during a period of record-high gold prices, capitalizing on market conditions to upgrade non-compliant bars from the 1920s era. Rather than refining and transporting the old stock, the Banque de France opted to sell it and purchase equivalent new bullion on the European market, aligning with international standards for weight, purity and certification.

Banque de France Governor François Villeroy de Galhau emphasized the practical nature of the decision. "Higher-standard gold is traded on a European market," he said, noting that buying compliant bars was...