A. M. 
The Bank of France sold 129 tons of gold—equivalent to about 5% of its total reserves—as part of a strategy to reorganize and modernize its assets, generating an estimated profit of 12.8 billion euros.
The operation was carried out through 26 transactions between july 2025 and early 2026 and involved the sale of gold that had been deposited at the U.S. Federal Reserve’s headquarters in New York. With this decision, France completed the transfer of all its gold reserves to its territory, centralizing them in Paris.
Instead of opting for the physical transfer of gold stored in the United States, the Bank of France decided to sell those bars and acquire new ones in Europe that meet current international market standards. This strategy allowed the bank to avoid logistics and refining costs, while facilitating the modernization of its reserves.
Following this transaction, France’s gold reserves total approximately 2,437 tons, making them the fourth largest in the world. All this gold is now stored in Paris, reinforcing the country’s direct control over one of its most important strategic assets.
Of the total reserves, about 134 tons consist of ingots and old coins, which the central bank plans to gradually modernize to comply with current international standards by 2028.
The decision also reflects a global trend in which several countries are seeking to repatriate their gold reserves and keep them within their borders, amid greater economic and geopolitical uncertainty.
In addition to the financial benefit gained, the operation allows France to have reserves that are more liquid, standardized, and ready for use in international markets, thereby strengthening its economic position and its ability to respond to potential crises.
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