Uncertainty Abroad Revives German Gold Repatriation Debate

Growing international uncertainty has revived Germany’s long-running debate over gold repatriation. Economists are questioning whether overseas storage remains appropriate.
Germany holds the second-largest gold reserves in the world, with more than a third stored in the United States. These holdings represent a significant portion of national wealth.
Experts warning of risk say geopolitical shifts could complicate access during crises. They argue that domestic storage would eliminate such vulnerabilities.
Others counter that the system has worked reliably for decades. They say Germany benefits from having gold in major global financial centers.
Officials continue to downplay immediate risks, but the renewed debate suggests attitudes are changing. Public and expert scrutiny is increasing.