Why are European countries moving their gold out of North America?

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Why are European countries moving their gold out of North America?4 hours agoShareSaveAdd as preferred on GoogleMichael RaceBusiness reporter, New York

Getty Images Gold bars stacked up

The Bank of England in London holds a lot of gold bars in its vaults

Getty Images The Bank of England in the city of London holds tonnes of gold bars in its vaults. This is an aerial view of the bank which is a historic building. — The Bank of England in London holds a lot of gold bars in its vaults

A line chart showing the price of gold per ounce in US dollars, from 2006 to 2026, adjusted for inflation to show mid-2026 prices. At the start of the time series, in September 2006, the inflation-adjusted price was around $985. The price generally trended upwards over the following two decades, although with several periods of volatility. After rising to around $1,500 in early 2008, it fell sharply during the global financial crisis, reaching a trough of around $1,116 in October 2008. The price then recovered and climbed through the 2010s, exceeding $2,500 in 2011 and again in 2012, before easing back and fluctuating mostly between $1,500 and $2,500 for much of the following decade. From late 2023 onwards, growth accelerated, with the price rising rapidly from around $2,000 to a record high of around $5,394 in February 2026. Since that peak, the price has fallen back but remains well above historical levels. In the latest data, for July 2026, the price stood at around $4,046.

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