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French media reports that between July 2025 and January 2026, the French central bank sold its last batch of 129 tons of gold stored in the United States (about 5% of France's total gold reserves) and simultaneously purchased an equivalent amount of gold in Europe, resulting in a capital gain of 12.8 billion euros.
In response, the French central bank downplayed the matter, saying it was merely upgrading old gold bars to new bars that meet the "London Good Delivery" standards.