(Photo via UnSplash)
Donald Trump’s tariff statements and actions have had a variety of unintended consequences. One of which has been sometimes been increasing the price of gold as well as to push allies to take actions related to it as well.
Here is a report about France:
France pulled $15B in gold from US vaults, and more European countries may follow. Is a global currency shift coming?
August 3, 2026
Earlier this year, France pulled off a financial maneuver that turned old gold into billions.
The strategy itself was relatively simple. Starting in mid-2025, France’s central bank sold 129 metric tons of gold it had stored in New York and replaced it with newer, high-quality bullion held in Paris. …
Now, as central banks around the world continue buying gold and moving reserves closer to home, France’s move is starting to look less like a one-off and more like part of a much bigger shift in how countries are managing their wealth. Across Europe, there’s been growing pressure to bring gold reserves back home, especially those stored in the U.S. …
According to the World Gold Council’s 2026 Central Bank Gold Reserves survey (3), 89% of reserve managers expect official gold holdings to increase over the next 12 months, and a record 45% said they expect their own institution’s gold reserves to rise. The survey also found that concerns about inflation, interest rates and geopolitical instability remain the biggest drivers of gold demand.
If that trend accelerates, it could signal something bigger: a gradual shift in how countries think about financial security, with potential effects for the dollar, markets and everyday investors. …
In times of uncertainty, governments want direct access to their reserves without relying on foreign institutions. In other words, they want control.
Plus, although central banks don’t actually rely on gold to back their currencies anymore, they still rely on it as a hedge against instability, just like retail investors. …
If more countries follow through with moves similar to France, the implications could stretch far beyond gold.
For decades, the U.S. has been the world’s financial anchor — a place where countries store reserves, settle trade and rely on institutions like the Federal Reserve for stability.
But the repatriation of gold, at its core, is possibly a signal of change, one that suggests some governments are becoming less comfortable leaving strategic assets under U.S. control. Central banks themselves increasingly cite geopolitics as a top risk influencing reserve decisions ..
A weakening dollar can push up import costs and inflation, market volatility can make stocks and bonds move unpredictably, and global instability can ripple into everything from interest rates to housing costs. France pulled $15B in gold from US vaults, and more European countries may follow. Is a global currency shift coming?
Yes, nations reducing gold holdings in the USA shows an increasing distrust of the USA. This will have economic and other consequences.
Notice the following from earlier this year:
‘Repatriate The Gold’: German Economists Urge Withdrawal From US Vaults
January 25, 2026
Shift in relations and unpredictability of Donald Trump make it ‘risky to store so much gold in the US’, say experts
Germany is facing calls to withdraw its billions of euros’ worth of gold from US vaults, spurred on by the shift in transatlantic relations and the unpredictability of Donald Trump.
Germany holds the world’s second biggest national gold reserves after the US, of which approximately €164bn (£122bn) worth – 1,236 tonnes – is stored in New York.
Emanuel Mönch, a leading economist and former head of research at Germany’s federal bank, the Bundesbank, called for the gold to be brought home, saying it was too “risky” for it to be kept in the US under the current administration.
“Given the current geopolitical situation, it seems risky to store so much gold in the US,” he told the financial newspaper Handelsblatt.
“In the interest of greater strategic independence from the US, the Bundesbank would therefore be well advised to consider repatriating the gold.”
Stefan Kornelius, the spokesperson for Friedrich Merz’s coalition government, said recently that withdrawal of the gold reserves was not currently under consideration.
But Mönch is only the latest in a string of economists and financial experts to argue that such a move would be in keeping with the greater strategic independence that Europe’s largest economy has been seeking from the US in recent months.
Michael Jäger, the head of the European Taxpayers Association (TAE) as well as the Association of German Taxpayers, has also said Berlin should make its move, arguing that the US’s stated desire to seize Greenland should concentrate minds.
“Trump is unpredictable and he does everything to generate revenue. That’s why our gold is no longer safe in the Fed’s vaults,” Jäger told the Rheinische Post.
“What happens if the Greenland provocation continues? … The risk is increasing that the German Bundesbank will no longer be able to access its gold. Therefore, it should repatriate its reserves.”
Jäger said he had written last year to the Bundesbank and the finance ministry, urging them to “bring our gold home”.
Until recently the gold issue has been the preserve mainly of the far-right Alternative für Deutschland (AfD), which has repeatedly urged the return of the gold for patriotic reasons. But it has increasingly crept into the mainstream discourse.
Katharina Beck, the finance spokesperson for the opposition Greens in the Bundestag, has also spoken out in favour of relocating the gold bars, calling them an “important anchor of stability and trust”, which “must not become pawns in geopolitical disputes”. https://www.zerohedge.com/precious-metals/repatriate-gold-german-economists-urge-withdrawal-us-vaults
Yes, statements from Donald Trump have alarmed the Germans, other Europeans, as well as others around the world.
Germany thought about doing more of this back in 2020 if Donald Trump were to be re-elected then:
Will Germany Repatriate its Gold From New York If Trump Wins the Election?
October 28, 2020
During the Trump administration political ties between the U.S. and Germany have critically deteriorated. Recently, the U.S. imposed sanctions on companies working on Nord Stream 2, and announced to withdraw 12,000 troops from Germany. In 2013, when Germany repatriated gold from the U.S., the Germans communicated: we will not be threatened.
Gold is a political metal. “Whoever has the gold makes the rules,” as the saying goes. Because gold serves as the backstop of the international financial system, the global distribution of gold influences the balance of power. This is true for gold ownership, but it also applies to storage locations. The more of its gold reserves Germany stores at the Federal Reserve Bank of New York, the more leverage the U.S. has over Germany. …
Since the launch of the Eurosystem Germany has been repatriating gold. Currently, Germany has 1,698 tonnes (50%) stored on its own soil, 1,236 tonnes (37%) stored in the U.S., and 432 tonnes (13%) in the U.K. Officially, Germany has the second largest gold reserves in the world at 3,366 tonnes. …
Germans are no fan of Trump. The annual “The Fears of the Germans” survey, performed by R+V Versicherung, shows that in 2020 the people in Germany fear nothing more than Trump’s foreign policy. …
Germany might be waiting for the elections in the U.S., because Biden can change America’s foreign policy. If Trump wins, and trans-Atlantic alliances further deteriorate, I wouldn’t be surprised if Germany brings more gold home. The consequences will be significant. One, if Germany repatriates because of a political dispute, this can incentivize other countries to repatriate from New York as well, causing a run on the Fed. Second, Germany would emphasize the importance of gold, which hurts the credibility of the dollar. https://www.zerohedge.com/commodities/will-germany-repatriate-its-gold-new-york-if-trump-wins-election
While the value of gold can drop, the long-term reality is that the value of the US dollar has been dropping, and ultimately will be worthless when gold will still retain value (cf. Daniel 11:39-43).
As far as gold goes, notice something from my January 2025 book Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies? :
Since many are now questioning the role of the USA dollar as the world’s reserve currency, more are looking into other currencies as well as gold.
Gold will set records in U.S. dollar terms. … gold will set further records in U.S. dollar terms in the relatively near future.
It has been asserted that:
The only replacement for fiat {currency} is a currency credibly backed by gold.[i]
Although the above can be debated, the reality is after the elimination of the USA and the crash of its dollar, the world will want something more stable than unbacked currency. Thus, it is likely that some type of gold-backed currency will emerge as the preferred reserve currency in the world.
It has long been reported that various nations around the world are already in the process of accumulating gold to one day overthrow the U.S. dollar—and that the “U.S. is unprepared for this strategic alternative to dollar dominance.”[ii] Various steps were also taken in 2022 and 2024.[iii]
When the U.S. dollar totally collapses people all around the world will consider that even if the euro (or something similar) is strong, having a more gold-backed currency would be safer.
The collapse of the USA dollar will shake a lot of the world’s confidence in non-gold backed currencies. The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the USA dollar or various other currencies.
Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied. (pp. 205-207)
[i] MacLeod A. Designing a new currency is impractical. Goldmoney Insights, March 24, 2022
[ii] Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016
[iii] Guistra F. Why the U.S. dollar will be replaced as the dominant global currency — sooner than you think. Toronto Star, July 5, 2022; Bezek I, Duggan W. De-Dollarization: What Would Happen if the Dollar Lost Reserve Currency Status? US News & World Report, November 2024
(Thiel B. Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies? Nazarene Books, 2025, pp. 205-207)
And we have already seen gold hit a record price scores of times since that book came out in mid-January 2025–though it has had major drops this year.
But even that should not be a surprise as in January I posted:
Yes, in certain ways, gold is overvalued. … –gold has hit daily record prices in US dollar terms over 50 times in 2025 (https://economictimes.indiatimes.com/markets/commodities/a-golden-run-after-60-surge-and-over-50-all-time-highs-this-year-whats-next-for-gold-in-2026/articleshow/125800646.cms?utm_source=chatgpt.com&from=mdr). And despite ups and downs, that is not over. … But that does not mean that the price of gold cannot drop, and drop by a lot, for a time. (Thiel B. Gold price predictions for 2026 and beyond. COGwriter, January 6, 2026)
While I am NOT a “gold bug” as I understand how some define that term, Bible prophecy shows that gold and silver will have value into at least part of the Great Tribulation–which means it will have value AFTER the USA dollar is done.
Notice the following prophecies related to the coming European (at least partially German per Isaiah 10:5-12) King of the North:
37 He shall regard neither the God of his fathers nor the desire of women, nor regard any god; for he shall exalt himself above them all. 38 But in their place he shall honor a god of fortresses; and a god which his fathers did not know he shall honor with gold and silver, with precious stones and pleasant things. 39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain.
40 “At the time of the end the king of the South shall attack him; and the king of the North shall come against him like a whirlwind, with chariots, horsemen, and with many ships; and he shall enter the countries, overwhelm them, and pass through. 41 He shall also enter the Glorious Land, and many countries shall be overthrown; but these shall escape from his hand: Edom, Moab, and the prominent people of Ammon. 42 He shall stretch out his hand against the countries, and the land of Egypt shall not escape. 43 He shall have power over the treasures of gold and silver, and over all the precious things of Egypt; (Daniel 11:37-43)
If gold and silver were of no value then, then they would not be precious (see also Zechariah 14:13-14) to the King of the North. The Bible clearly shows that gold and silver will be of value into the time of the final Babylon (Revelation 18:11-16). It may well be that the King of the North will realize that his currency needs more gold-backing as the collapsing of the USA dollar will likely send shockwaves against other paper currencies. Gold will help stabilize whatever currency he is supporting. He even may start amassing gold prior to the invasion of the USA (Daniel 11:37-39), but will clearly do so afterwards when he invades the King of the South (Daniel 11:40-43).
The fact that more in Germany want to repatriate gold is consistent with those prophecies in the Book of Daniel.
Here is a link to a 2025 video:
Is World War Three coming soon? Changes in the world order are rare, history-defining events—with massive implications, both geopolitical and financial. Is owning gold by Christians for the unexpected as Joel Rosenberg has publicly stated or, perhaps, for those who believe biblical prophecies, for the expected? Will the US Dollar collapse? In a word, yes. Could the USA be the highly indebted nation that Habakkuk 2:6-8 refers to? WWIII will mean the end of the USA dollar when that nation is conquered per Daniel 11:39, whereas gold will continue to have value per Daniel 11:43 and the 18th chapter of the Book of Revelation. Prophecy indicates that the massive debt of the USA will result in the take over of the USA (Habakkuk 2). While gold will continue to have value after the destruction of the US Dollar, we should not put our confidence in either. Will gold one day be worthless? Put your confidence in God and His Word. Seek first the Kingdom of God (Matthew 6:33).
Here is a link to our video: WWIII, Gold, and the Collapse of the Dollar.
Gold may go further down, but it is not out. Prophecies in the 11th chapter of Daniel and the 18th chapter of the Book of Revelation point to gold having value years after the US and its dollar are gone.
So, yes it is interesting that the idea that France and others in Europe repatriate gold.
Much of Europe is in the process of decoupling more and more from the USA.
For additional information, check out the following articles:
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What About Silver? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture.
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here are links to two related videos: The King of the North is Alive: What to Look Out For and The Future King of the North.
The Great Monarch: Biblical and Catholic Prophecies Is the ‘Great Monarch’ of Catholic prophecies endorsed or condemned by the Bible? Two sermons of related interest are also available: Great Monarch: Messiah or False Christ? and Great Monarch in 50+ Beast Prophecies.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos. Here is a link to a related sermon: Physical preparedness for Christians.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is are links to related videos: European history and the Bible, Europe In Prophecy, The End of European Babylon, and Can You Prove that the Beast to Come is European? Here is a link to a related sermon in the Spanish language: El Fin de la Babilonia Europea.
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? Do you really know what will happen to Europe and the English-speaking peoples? What about the peoples of Africa, Asia, South America, and the islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.