Bank of France Completes Repatriation of 129 Tons of Gold from U.S.
The Bank of France has finalized the repatriation of 129 metric tons of gold from the Federal Reserve vaults in New York, marking a strategic shift to modernize its reserves. The operation, conducted between July 2025 and January 2026, involved selling older bullion in the U.S. and purchasing higher-purity (99.5%) bars in Europe through over two dozen transactions.
France's gold reserves remain unchanged at 2,437 tons, with the repatriated amount representing roughly 5% of the total. The move eliminates storage costs abroad while aligning with international purity standards. No direct market disruption occurred, as the central bank executed a near-simultaneous arbitrage between markets.