Why Central Banks Are Bringing Their Gold Home

Banque de France repatriated gold held at the Federal Reserve Bank of New York (26 transactions involving 129 tonnes, selling New York metal for €13 billion and repurchasing bullion for storage in Paris); broader central-bank repatriation trend (e.g., political pressure on Deutsche Bundesbank to repatriate 1,236 tonnes held in New York vaults) Perigon signal context: impact positive, driver demand side.