According to the Telegraph, this is an unprecedented move since the Cold War, stemming from concerns about the reform of President Donald Trump's policies and increasingly eroding confidence in the role of a " dependable partner" of the US.
The United States has long been considered the world's safest gold storage location. But as the American driver can reverse policy through each term, even every tweet, even long-time allies like Germany must ask: Should we continue to deposit our financial heart in the land of the stars and stripes?
After World War II, with a huge trade surplus, Germany has accumulated a huge amount of gold, mostly deposited in major financial centers such as New York (USA), London (UK) and Paris (France).
Gold is not only a symbol of economic strength but also a "lifeline" in crisis. US gold reserves were once considered the optimal option because they could ensure quick USD liquidity in global financial fluctuations.
But the situation has changed.
Since 2013, Germany has quietly brought hundreds of tons of gold to Frankfurt. By 2020, about 337 billion euros of gold had returned to its homeland. German authorities have repeatedly suggested this is just a "risk diversification". But the truth is not that simple.
According to Bild, senior leaders of the Christian Democratic Union (CDU) - the party likely to lead the next German government - are seriously discussing withdrawing all gold reserves from the US.
Former CDU minister in the German government, Marco Wanderwitz, emphasized: "Of course, that question is raised." He has repeatedly requested inspections of US gold warehouses - a request that was rejected in 2012.
Another official, lawmaker Markus Ferber, frankly demanded that the German Bundesbank "prison to count each bullion and record the results".
This worry has increased after Mr. Donald Trump imposed a wide counterpart tax on European goods - an action seen as a "slide" on transatlantic relations.
Not only Germany, but the Netherlands, Austria, Türkiye, and even Venezuela have returned to their homeland.
Central banks are buying gold at record highs, while confidence in the greenback is eroded by inflation, trade war, and internal political risks in the US. If countries continue to withdraw gold from the US, the US-based financial system will face a major shock.
In that context, there was a question about whether all of Germany's gold was still intact in New York? When Germany was refused to inspect its gold reserves in 2012, many people began to question: Is the Fed leasing, mortgaging or selling a portion of foreign gold?
Although the Bundesbank later confirmed that it had audited and absolutely trust the Fed, the lack of transparency in the past still left a mark in the hearts of the German public and politicians.
The withdrawal of gold is not only an asset problem, but an affirmation of financial sovereignty. Especially in the context that CDU is proposing unprecedented defense spending reform - making the German army a key force in European security, more independent of US weapons and the army.
If Germany does indeed withdraw gold from the US, history will probably remember: the great return of German gold is the first sign of a shift in world financial power - from the US to a new order in which gold, once again, plays a central role.
