A growing number of German economists are questioning whether the country should continue storing a large share of its gold reserves in the United States. The debate reflects deeper concerns about global political stability.
Germany owns one of the world’s largest gold reserves, valued at nearly €450 billion. About 37% of this gold is currently stored in New York, with the rest held in Europe.
Those pushing for repatriation argue that national reserves should be kept under direct control, especially during times of political uncertainty. They warn that unexpected diplomatic disputes could limit access.
Others believe the concerns are overstated, pointing out that gold storage abroad supports international trade and financial cooperation. They stress that Germany’s reserves are diversified by design.
For now, the government remains cautious, stating that there is no urgent need to alter existing arrangements. The debate, however, shows no signs of fading.