BREAKING: France has officially removed all of its gold reserves from the Federal Reserve Bank in New York. pic.twitter.com/iOs2zDtnch
— The General (@GeneralMCNews) April 6, 2026
French central bank nets €13bn by pulling gold out of US reserves
France’s central bank has sold off the last of the gold it held in the United States Federal Reserve and replaced it with higher quality bars in Paris, taking advantage of rising prices to make nearly €13 billion as it upgrades its holdings.
The Banque de France (BdF) announced last week that it generated a capital gain of €12.8 billion after upgrading 129 tonnes of gold – about 5 percent of France’s total reserves – between July 2025 and January 2026.
The gold was the last of the French reserves held in New York. It was replaced with the equivalent amount bought in Europe and held in Paris.
The BdF has been gradually replacing older, non‑standard gold with bars that meet modern international standards since 2005. It moved the majority of its gold reserves out of the US Federal Reserve and the Bank of England between 1963 and 1966.
Rather than refining and transporting the gold that remained in the US, the bank opted to sell it and purchase new, compliant bullion on the European market.