Germany Urged to Repatriate £122 Billion in Gold From Trump’s “Risky” U.S.

Germany has been urged to withdraw gold worth more than £100 billion from American vaults, amid warnings that Donald Trump’s unpredictability has made keeping it there too “risky,” James Jackson reported for The Telegraph.

Germany keeps more than a third of its total gold reserves—3,552 tons—in New York, the second-largest national stockpile in the world behind the United States.

Germany currently stores 1,236 tons of gold—roughly the weight of three Air Force One jets—at the US Federal Reserve in New York, worth around €164 billion (£122 billion).

Economists and politicians warned that the reserves were exposed to the whims of an increasingly erratic US president, who this month alone threatened Europe with crippling sanctions over Greenland, captured Venezuela’s president, and was reportedly poised to launch air strikes on Iran.

Emanuel Mönch, former head of research at the Bundesbank, Germany’s central bank, told financial newspaper Handelsblatt: “Given the current geopolitical situation, it seems risky to store so much gold in the US. In the interest of greater strategic independence, the Bundesbank would therefore be well advised to consider repatriating the gold.”

Germany keeps more than a third of its total gold reserves—3,552 tons—in New York, the second-largest national stockpile in the world behind the United States, which holds 8,130 tons.