European Governments Move Gold Reserves Out of US Amid Geopolitical Uncertainty

The US government's gold reserves held in Fort Knox are no longer considered secure by some European governments, leading to a move of gold out of the United States. The Dutch central bank has moved about 86 tonnes of gold from New York to London due to geopolitical unrest and concerns over crisis preparedness.

France also removed its remaining gold exposure from the New York Federal Reserve between July 2025 and January 2026, citing no political motivation. However, several politicians in Germany and Italy have called for their countries' gold to be taken out of the US due to concerns about the Trump administration's unpredictable policymaking.

Analysts say that while outright seizure of assets is unlikely, there are growing concerns about ease of access in an age of geopolitical uncertainty. Central banks around the world have been buying more gold since the 2008 global financial crisis and are increasingly focused on where and how they store it.