German Lawmakers Demand Gold Repatriation Amid Trump’s Unstable Policies
Amid rising global uncertainty, German lawmakers are advocating for the repatriation of the country’s gold reserves held in the United States. This call to action is largely motivated by concerns over the unpredictable policies of U.S. President Donald Trump.
Proposal for Gold Repatriation
Marie-Agnes Strack-Zimmermann, a member of the Free Democratic Party (FDP) and Member of the European Parliament, argues that maintaining a substantial portion of Germany’s gold reserves abroad is increasingly risky. Currently, Germany’s Deutsche Bundesbank holds 1,236 tons of gold at the Federal Reserve Bank in New York, valued at around $180 billion.
Strategic Risks and Historical Context
Strack-Zimmermann emphasized that the geopolitical landscape has significantly shifted since the Cold War, a time when such practices were deemed necessary. She claimed that continuing to store approximately 37% of Germany’s gold in New York poses unacceptable strategic risks given the current global climate.
Experts point to the surge in gold prices as an indicator of instability. In 2025 alone, gold prices increased by nearly 70%, driven by factors such as continued central bank purchases and inflation concerns. Recently, gold prices approached a record high of $5,000 per ounce.
Opinions from Various Lawmakers
- Emanuel Mönch: Former head of research at the Deutsche Bundesbank noted that maintaining vast gold reserves in the U.S. is increasingly viewed as a strategic risk.
- Katharina Beck: Spokesperson for Germany’s Green Party highlighted gold reserves as essential for stability, urging that they must not be utilized in geopolitical negotiations.
- Joachim Nagel: President of Deutsche Bundesbank disagreed with calls for repatriation, stating that current conditions do not warrant such discussions. He noted the interconnected nature of financial policy between Germany, Europe, and the U.S.
Background on Gold Reserves
The storage of gold in various foreign locations stems from historical reasons and liquidity considerations. Since the post-war economic recovery, Germany has kept part of its gold reserves overseas. In recent years, a portion of this gold was repatriated from both New York and Paris. Currently, about half of Germany’s gold is held domestically.
This ongoing debate among German lawmakers indicates a growing skepticism regarding the reliability of U.S. gold storage, particularly under the current administration. As calls for gold repatriation intensify, the dynamics of international relations and economic policies remain under scrutiny.
