France has moved all its gold reserves from the United States to Paris, and Germany is about to follow suit!
France will no longer store its gold reserves within the U.S. territory; all gold held by France has now been transferred to domestic storage.
The French Central Bank (Banque de France) has fully sold off its gold holdings stored in the Federal Reserve system. This operation began in July last year and was completed in January this year. According to a central bank report released at the end of March, this transaction generated a capital gain of 12.8 billion euros. France sold a total of 129 tons of gold to the U.S., accounting for approximately 5% of its total gold reserves.
While divesting its gold reserves held in the U.S., France simultaneously purchased an equivalent amount of gold on European markets, thereby achieving both reserve replenishment and domestic relocation, while also securing substantial profits.
Previously, French officials stated that the paths of the U.S. and Europe are increasingly diverging, making it risky to keep gold reserves in a country led by an "unpredictable" president. "No one knows what's going through Trump’s mind, nor can anyone predict what new scheme he might come up with next."
Following France, Germany may also repatriate its gold reserves from the U.S. Domestic calls for the government to act promptly on this issue are growing louder, warning against missing the opportunity.
Original source: toutiao.com/article/1861722480465987/
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