Germany’s long-standing practice of storing part of its gold reserves abroad is under renewed scrutiny. Experts warn that changing global power dynamics could expose the country to unnecessary risks.
Approximately 1,236 tonnes of German gold are held in the United States, accounting for more than a third of the national reserve. The remainder is largely stored in Frankfurt and London.
Economists argue that political unpredictability abroad could complicate Germany’s ability to access its gold in a crisis. They say repatriation would align with Europe’s broader push for strategic autonomy.
Support for relocating the gold has grown beyond fringe political groups. Mainstream economists and lawmakers are now openly discussing the issue.
Still, some financial leaders warn that moving the gold could worsen diplomatic tensions. Officials insist Germany’s current storage strategy remains safe and balanced.