French President Emmanuel Macron sold 129 tonnes of French gold held in New York and replaced it with European reserves, generating around €13 billion in profits a move that has caught global attention and shocked US President Donald Trump, reported 24NewsHD TV channel on Wednesday.
Banque de France (BdF) said that between July 2025 and January 2026, it had withdrawn the last chunk of gold it was storing in New York and replaced it with an equal amount of gold bars in its vaults in Paris. This gold weighed about 129 tonnes, roughly 5% of its total reserves.
With this move, France now keeps its entire stock of around 2,437 tonnes of gold within the country.
The recent move was not just about relocation. France also took advantage of record-high gold prices by selling older gold bars in New York itself.
It then used the money to buy newer, higher-quality gold in Europe. This reshuffling earned the central bank an estimated $14.76 billion in profits (₹1.37 lakh crore) and roughly 5% of its total reserves, boosting its finances significantly.
France has the 4th largest gold reserve after the US, Germany, and Italy.