Banque de France has made a significant move by replacing 5% of its gold reserves held in New York with new bullion in its Paris vaults, capitalizing on the recent surge in gold prices. This strategic decision transformed a EUR 2.9 billion loss into an impressive profit of EUR 8.1 billion for the fiscal year 2025. The bank noted that its net income from euro-denominated assets rose by EUR 2 billion, while income from assets held for its own account increased by EUR 12.2 billion due to this exceptional item. Furthermore, the bank's actions are part of a broader trend among central banks worldwide, which are increasing their gold reserves in response to geopolitical tensions and the depreciation of the US dollar. Historically, France had stored a portion of its gold with the New York Federal Reserve Bank for convenience, but it has been gradually repatriating these reserves to meet modern standards, as recommended by an internal audit in 2024.