The Bank of France, also known as Banque de France, has completed a significant gold transfer, selling 129 tonnes of gold held in New York for a profit of approximately €13 billion (about $15 billion). This strategic decision involved selling older, non-standard gold bars and purchasing new, internationally compliant bullion stored in Paris. The move was prompted by a 2024 internal audit that recommended upgrading the quality of France's gold reserves, which had been partially stored in New York since the late 1920s. The transaction, carried out between July 2025 and January 2026, allowed the central bank to post a net profit of €8.1 billion for 2025, a significant recovery from a net loss of €7.7 billion the previous year. Despite the changes in composition and location, France's total gold reserves remain unchanged at around 2,437 tonnes, with plans to upgrade an additional 134 tonnes by 2028.