Call to Germany for US gold withdrawal

Germany is facing calls to withdraw its gold worth billions of euros from the US safes, driven by change in transatlantic relations and American President Donald Trump's unpredictable.

Germany holds the second largest national gold reserves in the world after the US, of which approximately 1.236 tonnes worth approximately 164 billion euros are stored in New York.

Emmanuel Monch, a prominent economist and former research leader at Germany's federal bank, Bundesbank, called for the gold to be brought home, saying it was very dangerous “” to be held in the US under the current administration.

In view of the current geopolitical situation, it seems dangerous to preserve so much gold in the US”, he said.

“in the interest of greater strategic independence from the US, Bundesbank would be wise to consider the repatriation of gold”, Monch added.

But, Stefan Cornelius, spokesman for the Friedrich Merz coalition government, recently said that attracting gold reserves was not currently under consideration.

Germany's total gold reserves are worth almost 450 billion euros.

A little over half are held in Bundesbank in Frankfurt am Main, 37% in the U.S. Federal Reserve vaults in New York and 12% at the Bank of England in London, the global gold trading center. /Periscopi/