Economists Call for Germany to Reclaim Gold Held in the US

German economists are increasingly calling for the return of gold reserves stored in the United States, citing rising geopolitical uncertainty. The discussion reflects broader concerns about long-term financial independence.
Germany’s gold reserves total nearly €450 billion, with over a third currently stored in New York. This arrangement has existed for decades and was once seen as a symbol of trust between allies.
Recent political developments, however, have led experts to question whether that trust can still be taken for granted. Some fear that access to German gold could become entangled in future diplomatic disputes.
Advocates of repatriation argue that storing gold domestically would reduce strategic vulnerabilities. They also say modern financial systems no longer require such large overseas holdings.
Despite these concerns, senior policymakers emphasize that Germany’s gold is regularly audited and secure. For now, officials say there are no concrete plans to change the storage policy.