France's gold repatriation from New York has been completed in a transaction that has highlighted innovative approaches to central bank reserve management. In a series of transactions between July 2025 and January 2026, the institution sold 129 tonnes of older bullion stored at the Federal Reserve Bank of New York.
It then bought back an identical volume of higher-standard bars in Europe, ensuring all 2,437 tonnes of France's gold reserves are now held in Paris. The move upgraded the holdings to meet current international specifications while delivering a capital gain of £11.2 billion ($15 billion).
