The Bank of France has withdrawn the last 129 tonnes of gold it kept in the Federal Reserve’s New York vault and placed equivalent bars in its own underground facility in La Souterraine. The metal represented roughly five percent of France’s total reserves and marked the end of a presence that dated back to the late 1920s.

France began repatriating bullion in the 1960s after the U.S. abandoned the Bretton Woods peg, but a small slice remained abroad. An audit in 2024 recommended swapping “non‑standard” bars for ones that meet international specifications. Rather than ship the New York gold, the BdF sold it and bought new European‑sourced bars, generating a 13 billion‑euro capital gain. The sale took advantage of record‑high spot prices.

The transaction lifted the bank’s 2025 profit to 8.1 billion euros, reversing a 7.7‑billion‑euro loss the prior year. Total reserves stay at about 2,437 tonnes, now fully housed in Paris, with 134 tonnes earmarked for upgrade by 2028. By consolidating assets in a single, standards‑compliant vault, France effectively reduces logistical risk and simplifies future audits.