Central Banks Flee New York Gold Vault Amid Safety Concerns

For decades, New York's Federal Reserve vault has been considered one of the world's safest and most trusted gold storage facilities. However, a growing number of central banks are questioning this status by withdrawing their gold reserves from the US.

The World Gold Council's June 2026 survey found that only 14% of central banks now store gold at the New York Fed, down from 17% the previous year. The Bank of England also saw its share slip from 64% to 57%.

The Netherlands and France have led this exodus, with the Dutch central bank relocating approximately 86 tonnes of gold from North American storage between March and August 2026. This single operation slashed the Netherlands' reliance on New York vaults from 31.3% of its total reserves down to 18.5%. France went even further, completing a full withdrawal of its remaining 129 tonnes from the New York Fed through 26 separate transactions between July 2025 and January 2026.

This move generated estimated capital gains of between €11 billion and €13 billion thanks to US gold premiums at the time of transfer. Germany, which holds roughly 1,236 tonnes of gold in New York, is watching these developments closely. The country already repatriated about 300 tonnes back in 2017, and internal political pressure to bring more home has intensified.