Berlin is considering repatriating part of its gold reserves from the United States amid growing concerns over Washington’s unpredictable foreign policy, according to The Telegraph.
For decades, around 1,200 tons of German gold — the second largest national reserve in the world after that of the U.S. — has been stored in the underground vaults of the Federal Reserve Bank in New York. However, senior members of the Christian Democratic Union (CDU), the party expected to lead Germany’s next government, are now discussing the possibility of bringing it back home.
According to The Telegraph, the German gold held in New York is valued at €113 billion and accounts for nearly one-third of the country’s total gold reserves. Another 13% is stored in London.
Initially, storing gold in the U.S. was seen as a strategically sound decision — it ensured access to dollar liquidity in the event of a major global economic downturn. However, with transatlantic relations deteriorating, an increasing number of German politicians are advocating for moving the gold at least to Europe, and ideally, back to Frankfurt.
