Spain Weighs Repatriation of Gold Reserves Amid Geopolitical Unrest

Spain is considering whether to repatriate its gold reserves from the US, following in the footsteps of other countries like the Netherlands and France. The Spanish central bank holds around 289 tonnes of gold, making it the sixth-largest reserve among EU countries.

The Bank of Spain refused to disclose how much gold is stored in New York or comment on plans to move it, citing confidentiality. However, sources speaking anonymously told El País that most of Spain's gold is held within Spanish borders and the amount stored in the US is likely small.

Luis Garvía, a professor at Instituto de Estudios Bursátiles (IEB), argued that bringing the gold home should not be seen as a nationalist policy. Instead, it would be part of the European Union's strategic autonomy framework.