France repatriates gold, earns €13 billion profits

PARIS: (Web Desk) – Emmanuel Macron has overseen the sale of 129 tonnes of French gold previously held in New York, replacing it with European-held reserves, generating around €13 billion in profits, a move that has drawn global attention and reportedly surprised Donald Trump.

The Banque de France stated that between July 2025 and January 2026, it withdrew the final portion of its gold stored in New York and replaced it with an equivalent amount of gold bars stored in its Paris vaults. The relocated gold weighed approximately 129 tonnes, representing roughly 5% of France’s total reserves.

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With this initiative, France now keeps its entire gold stock, totaling around 2,437 tonnes, within its own borders.

The move was not merely a physical transfer. France strategically capitalized on record-high gold prices by selling older bars in New York and using the proceeds to purchase newer, higher-quality gold in Europe. This reshuffling reportedly earned the central bank an estimated $14.76 billion (₹1.37 lakh crore), amounting to roughly 5% of its total reserves, strengthening France’s financial position significantly.

France holds the world’s fourth-largest gold reserve, following United States, Germany, and Italy.