France completes gold repatriation from US, moves 129 tonnes to Paris vaults
By
teleforce
Crispy enough to crunch, soft enough to enjoy. A good bake.
Summary
France has completed the repatriation of its remaining gold reserves from the United States, moving 129 tonnes of gold from the Federal Reserve Bank of New York to its vaults in Paris. This represents about 5% of France's total gold holdings, which remain unchanged at approximately 2,437 tonnes. The repatriation process began in the 1960s and marks the end of France storing gold in the US, a practice that started in the late 1920s.
Key quotes
· 4 pulledThe Bank of France (BdF) says it has pulled the remaining gold held in New York and replaced it with a similar amount of gold bars in its vaults in Paris.
The gold amounted to 129 tonnes — or about 5% of the bank's total holdings, according to the bank's press release issued last week.
France, one of the world's leading gold holders, has been storing some of its bullion with the Federal Reserve Bank of New York since the late 1920s.
However, an operation to repatriate its gold holdings began in the 1960s leading up to the US termination of the Bretton Woods system.
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