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Adam Sharp: Germany wants its gold back (again)
By Adam Sharp
Daily Reckoning, Baltimore
Monday, February 9, 2026
Germany has the second-largest gold reserves in the world at 3,350 tons.
The U.S. is first with 8,133 tons.
China says they hold 2,300 tons, but it's widely known they've been secretly buying for decades. The country's true holdings may even surpass America's.
... Dispatch continues below ...
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But let's get back to Germany. The country holds 37% of its hoard in Manhattan at the New York Federal Reserve vault. That gold is valued at about $170 billion today.
Why would Germany store so much gold in New York? Because back in the 1970s there was fear that the Soviet Union would send 20,000 tanks through the Fulda gap into West Germany.
So the gold was stored in the U.S. for safekeeping.
But ever since Germans have occasionally demanded their bullion back. With limited success. ...
... For the remainder of the commentary:
https://dailyreckoning.com/germany-wants-its-gold-back-again/
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