Noida, Apr 7 (APAC Media): The Bank of France has sold its remaining gold reserves held in the United States, locking in significant gains amid a surge in global bullion prices. The phased transactions, carried out between July 2025 and January 2026, bring to an end France’s decades-long practice of storing part of its sovereign gold at the Federal Reserve Bank of New York.
“We have sold around 129 tonnes of older, non-standard gold bars, representing roughly 5 per cent of our total reserves, during a period of historically high prices. This operation has generated estimated capital gains of €12.8 billion, strengthening the financial position of the central bank,” A spokesperson from the Bank of France said.
Rather than transporting gold across continents, the Banque de France adopted a “sell and repurchase” strategy. The US-held bullion was sold in New York, with the proceeds used to purchase higher-grade bars on the European market, which were then stored in Paris.
Officials said the approach helped bypass logistical difficulties and political sensitivities, while modernising the quality and liquidity of France’s gold reserves.
“This decision is a practical measure for managing our reserves, not a political statement. Our priority has been to upgrade our gold holdings to meet current international standards.” Bank Governor added.
The move has considerably strengthened the bank’s finances, turning a €7.7 billion loss in 2024 into a net profit of €8.1 billion in 2025.
Following this transaction, France now holds its entire gold reserve of approximately 2,437 tonnes in Paris, completing a long-term programme of repatriation and modernisation.
“This operation underscores a wider trend in central bank reserve management, with countries increasingly favouring domestic control over their strategic assets.” Analysts expressed.
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