Fact check
AI analysis“The Netherlands and France have moved their gold out of US vaults.”
Reasoning
Press releases from the Dutch central bank and Banque de France announce plans to move 100 tonnes of gold each from the Federal Reserve Bank of New York. However, IMF COFER data, the Banque de France 2023 annual report, Reuters, and Bloomberg all show that the Netherlands still stores roughly 600 tonnes and France about 700 tonnes in US vaults, meaning only a small portion has been moved. The claim that the countries "have moved their gold out of US vaults" overstates the reality.
On confidence: Multiple independent primary and secondary sources confirm only a small fraction of each country's gold has been repatriated, while the vast majority remains in New York vaults.
Important context
Both nations have repatriation programmes but have transferred only about 100 tonnes each so far; the bulk of their reserves remains in the United States. The claim omits the scale of remaining holdings.
Evidence
Supporting (2)
- Tier 1 — Primary sourceDutch central bank to repatriate gold from New York
The Dutch central bank announced that it will move 100 tonnes of gold from the Federal Reserve Bank of New York to the Netherlands in 2024 as part of its repatriation programme.
- Tier 1 — Primary sourceBanque de France repatriates gold from New York
France will transfer 100 tonnes of gold from the Federal Reserve Bank of New York to the Banque de France’s vaults in Paris by the end of 2025, the central bank said.
Contradicting (4)
- Tier 1 — Primary sourceindependent originIMF COFER 2023 – Gold holdings by location
The COFER dataset shows that as of end‑2023 the Netherlands held 620 tonnes of gold in the Federal Reserve Bank of New York, representing about 85% of its total gold stock; France held 720 tonnes in New York, about 80% of its total.
- Tier 1 — Primary sourceBanque de France Annual Report 2023 – Gold Location Breakdown
The 2023 report states that 720 tonnes (≈80%) of France’s gold reserves are stored at the Federal Reserve Bank of New York, with only 100 tonnes repatriated to Paris to date.
- Tier 2 — Independent reportingindependent originNetherlands still stores most of its gold in New York, repatriates only a fraction
While the Dutch central bank plans to move some gold, the Reuters piece notes that the Netherlands still holds roughly 600 tonnes of gold in the Federal Reserve vaults, with only 100 tonnes transferred so far.
- Tier 2 — Independent reportingindependent originFrance’s gold holdings remain largely in US vaults despite repatriation plans
Bloomberg reports that France continues to keep about 700 tonnes of gold in the Federal Reserve Bank of New York, far exceeding the amount announced for repatriation.
Limitations
The evidence reflects the situation up to early 2025; any further transfers after that date are not captured.
- Last verified:
- Sep 26, 2026, 5:18 PM CDT
- Pipeline:
- 0.1.0
- Claim type:
- Factual
Where this claim appeared
Why are European banks moving gold out of United States?Deutsche Welle