{"id":2518,"date":"2025-04-25T20:22:26","date_gmt":"2025-04-25T20:22:26","guid":{"rendered":"https:\/\/novaguardfs.com\/?p=2518"},"modified":"2025-04-25T20:22:26","modified_gmt":"2025-04-25T20:22:26","slug":"germany-may-look-to-withdraw-its-gold-from-us","status":"publish","type":"post","link":"https:\/\/www.novaguardfs.com\/index.php\/2025\/04\/25\/germany-may-look-to-withdraw-its-gold-from-us\/","title":{"rendered":"Germany may look to withdraw its gold from US"},"content":{"rendered":"

Germany may look to repatriate the vast amount of gold it currently stores in New York amid concerns over US President Donald Trump\u2019s unpredictable tariff policies,\u00a0the\u00a0Telegraph\u00a0<\/em>reported<\/a>\u00a0on Friday.<\/p>\n

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The UK-based paper says that a number of senior figures within the\u00a0Christian Democratic Union (CDU) party, which is slated to lead the next German government after its February election win, have been discussing the possibility of pulling its gold stockpile out of the US, citing\u00a0an earlier report<\/a>\u00a0by German newspaper\u00a0Bild<\/em>.<\/p>\n

Currently, Germany has the world\u2019s second-largest gold reserves at about 3,350 tonnes, behind only the US and its 8,100 tonnes.<\/p>\n

Germany\u2019s appetite for gold has been well documented due to its turbulent history. Following its defeat in World War II, the country\u2019s bullion vaults were essentially emptied. But a post-war economic boom gave it the financial means to begin stockpiling the yellow metal, made convenient by the Bretton Woods system.<\/p>\n

By the 1960s, Germany had become one of the world\u2019s largest gold holders, with much of its reserves stored abroad \u2014 in New York, London and Paris \u2014 to ensure accessibility in case of conflict. Behind the decision to store that gold aboard is the amount of trust it had built with its Western allies, particularly the US.<\/p>\n

But, under the current geopolitical climate, that trust may have waned amongst members of Germany\u2019s next ruling party.<\/p>\n

Markus Ferber, a member of the European Parliament for the CDU,\u00a0told\u00a0Bild\u00a0<\/em>last week<\/a>\u00a0that, at the very least, \u201cGerman officials must be allowed to personally inspect its bullion\u201d held in the US.<\/p>\n

Outgoing CDU lawmaker Marco Wanderwitz\u00a0echoed the same concerns, dating as far back as 2012. At that time, he lobbied for a visit the gold reserve as part of an effort to pressure the Bundesbank to either take a more active role as a custodian, but that request was turned down.<\/p>\n

The German central bank eventually launched an operation to bring back some of its gold stored overseas, with the goal of having at least half of its gold reserves on domestic soil from 2020 onwards. That effort resulted in the transfer of 300 tonnes back to Frankfurt from New York and about 374 tonnes from Paris.<\/p>\n

Today, Germany still has some 1,200 tonnes, or about a third of its gold, stored in the vaults of the New York Federal Reserve in Manhattan, plus another 430 tonnes with Bank of England. At current prices, the US-held gold would be valued at over \u20ac100 billion.<\/p>\n

Michael J\u00e4ger, a member of the Taxpayers Association of Europe, has said that it would be better to \u201cbring all German gold reserves to Frankfurt or at least to Europe as quickly as possible\u201d.<\/p>\n

The New York Fed, as the world\u2019s largest gold custodian, stores about 6,300 tonnes of gold on behalf of more than 30 foreign central banks. In addition to Germany, other prominent European economies storing their gold with the New York Fed include Italy and Switzerland.<\/p>\n

\n

Bundesbank President Joachim Nagel stressed earlier this year that \u201cWe have (\u2026) there is no doubt at all that with the New York Fed we have a trustworthy, reliable partner in the storage of our gold holdings.\u201d<\/p>\n<\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Germany may look to repatriate the vast amount of gold it currently stores in New York amid concerns over US President Donald Trump\u2019s unpredictable tariff policies,\u00a0the\u00a0Telegraph\u00a0reported\u00a0on Friday. The UK-based paper says that a number of senior figures within the\u00a0Christian Democratic Union (CDU) party, which is slated to lead the next German government after its February […]<\/p>\n","protected":false},"author":3,"featured_media":2519,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[19,20],"tags":[25,50,27,28],"class_list":["post-2518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-delivery","category-logistics","tag-freight","tag-gold","tag-road-freight","tag-transport"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.novaguardfs.com\/index.php\/wp-json\/wp\/v2\/posts\/2518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.novaguardfs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.novaguardfs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.novaguardfs.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.novaguardfs.com\/index.php\/wp-json\/wp\/v2\/comments?post=2518"}],"version-history":[{"count":1,"href":"https:\/\/www.novaguardfs.com\/index.php\/wp-json\/wp\/v2\/posts\/2518\/revisions"}],"predecessor-version":[{"id":2520,"href":"https:\/\/www.novaguardfs.com\/index.php\/wp-json\/wp\/v2\/posts\/2518\/revisions\/2520"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.novaguardfs.com\/index.php\/wp-json\/wp\/v2\/media\/2519"}],"wp:attachment":[{"href":"https:\/\/www.novaguardfs.com\/index.php\/wp-json\/wp\/v2\/media?parent=2518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.novaguardfs.com\/index.php\/wp-json\/wp\/v2\/categories?post=2518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.novaguardfs.com\/index.php\/wp-json\/wp\/v2\/tags?post=2518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}