Central Banks Withdraw Gold Reserves from New York Vault

For decades, the New York Federal Reserve's vault has been considered the world's most trusted gold locker. Central banks from allied nations have stored their reserves there with confidence. However, this confidence is cracking.

A growing number of central banks are shipping their gold home. According to a June 2026 World Gold Council survey, 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 lead the exodus. De Nederlandsche Bank made a recent headline-grabbing move, relocating approximately 86 tonnes of gold from North American storage between March and August 2026. This 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 in 26 separate transactions between July 2025 and January 2026. This operation generated estimated capital gains of between €11 billion and €13 billion thanks to US gold premiums at the time of transfer.