French central bank books $15 billion gain on gold reserve upgrade

By Leigh Thomas Reuters Tuesday, March 24, 2026 PARIS -- The Bank of France has booked one-off capital gains of nearly 13 billion euros ($15.1 billion) from an upgrade of its ​gold reserves since last July as it benefited from high ‌gold prices, the central bank said today. Over the past two decades the bank has been gradually replacing older or non‑standard gold holdings with bars that meet ​modern international standards. A 2024 internal audit recommended completing the ​process for the small share of French gold still held ⁠in New York. ... Dispatch continues below ... ... ADVERTISEMENT ... Bullion Star Opens in the U.S., Selling and Vaulting Gold and Silver Bullion Star is now open in the United States, offering gold and silver bullion at extremely competitive prices with free delivery. Bullion Star also offers customers a year of free vault storage along with free delivery as well as storage in its secure precious metals vault in Dallas, Texas. Storing precious metals is challenging. Homeowner's insurance seldom covers precious metals, and safe deposit boxes offered by banks are neither insured nor covered by the government deposit insurance. Bullion Star's vault is an independently run, Class III UL-rated vault with uncompromising surveillance and round-the-clock security. With Bullion Star you can transact and store your metals securely and confidentially. Your bullion is fully insured against all risks at full replacement value. Bullion Star uses five audit methods to verify the existence and correctness of your stored bullion. For more information, please visit: https://www.bullionstar.us/ The residual stock of 129 metric tons, or about ​5% of France's total gold reserves, was upgraded by selling the gold ​and buying compliant bars between July 2025 and January 2026 rather than going to the trouble of trying to get it refined. That programme is now complete, the bank ​said. The overall size of France's gold reserves remained unchanged at roughly ​2,437 tons, but the new bars are now held in Paris rather than New ‌York. Governor ⁠Francois Villeroy de Galhau said the new bars were kept in Paris because the higher-standard gold is traded on a European market, and that the decision was not politically motivated. ... ... For the remainder of the report: https://www.reuters.com/business/french-central-bank-books-15-billion-gain-gold-reserve-upgrade-2026-03-24/ * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png