That gold was the last from French reserves held in New York. It was replaced with an equivalent amount purchased in Europe and stored in Paris.
The BdF has been gradually replacing older, non-standard gold with gold bars that meet modern international standards since 2005. It moved the majority of its gold reserves from the U.S. Federal Reserve and the Bank of England between 1963 and 1966.
Instead of refining and transporting the gold that remained in the U.S., the bank decided to sell it and purchase new, compliant gold on the European market.
Through 26 transactions, the BdF realized a significant profit, taking advantage of record-high gold prices during that period.
The total French gold reserves, approximately 2,437 tons—the fourth largest in the world—are now all in Paris. This includes 134 tons of older bars and coins, which the bank intends to bring up to standard by 2028.
In Germany, which holds the world's second-largest gold reserves, some economists have called on the government to withdraw gold from the U.S., citing concerns over unpredictable policies under President Donald Trump.
The Bundesbank holds nearly 1,236 tons of gold in the U.S., representing about 37 percent of its total reserves.
"Trump is unpredictable and does everything to generate revenue. Therefore, our gold is no longer safe in the vaults of the Federal Reserve," said Michael Jäger, president of the German Taxpayers' Association and the European Taxpayers' Association.
BdF Governor François Villeroy de Galhau emphasized that the decision to move French gold from the U.S. was not politically motivated.
Instead, it was based on the fact that higher-standard gold is traded on the European market, and purchasing new gold was easier than refining existing stocks.
Exceptional capital gains contributed to the bank's net profit of 8.1 billion euros for 2025, following a net loss of 7.7 billion euros the previous year.