A fresh debate has emerged in Germany over whether the country should continue storing a large share of its gold reserves in the United States. Economists are increasingly questioning whether this arrangement remains safe amid shifting global alliances.
Roughly 37% of Germany’s gold reserves are held in New York, while the remainder is split between Frankfurt and London. This storage strategy was historically designed to support liquidity and international trade.
Critics now argue that geopolitical tensions and unpredictable political decisions in Washington could pose long-term risks. Some experts believe Germany should reduce its dependence on foreign vaults to strengthen economic sovereignty.
Supporters of repatriation say gold represents national security as much as financial stability. They argue that access to reserves should never be influenced by diplomatic or political disagreements.
Others caution against hasty decisions, warning that moving the gold could send negative signals to international markets. Officials continue to insist that Germany’s reserves remain secure and accessible.