Germany is facing strong calls to bring back its gold worth €164bn stored in US vaults due to concerns over Donald Trump's unpredictable administration. Germany owns the world's second-largest gold reserves. Economist Emanuel Mönch said it is "too risky" to keep the gold in the US right now. He told Handelsblatt that for "greater strategic independence from the US, the Bundesbank should consider repatriating the gold." Although the German government spokesperson Stefan Kornelius says withdrawal is "not currently under consideration," several experts disagree. Michael Jäger, head of the European Taxpayers Association, warned that Trump's plans, like seizing Greenland, increase risks of losing access to the gold. He urged officials to "bring our gold home." Until recently, mainly the far-right AfD party argued for returning the gold, but now mainstream voices like Green politician Katharina Beck support moving the gold too. Beck called gold an "important anchor of stability and trust" that "must not become pawns in geopolitical disputes." However, Clemens Fuest from the Ifo Institute cautioned against repatriation, saying it could worsen tensions and have unintended effects. Germany’s total gold reserves are about €450bn. Around 37% are stored in New York, 12% in London, and the rest mainly in Frankfurt. Bundesbank president Joachim Nagel assured last October at the IMF meeting that there is "no cause for concern" about the US-held gold. Social Democrat Frauke Heiligenstadt said Germany's gold is "well diversified" and having some in New York "makes sense" given close financial ties between Germany, Europe, and the US. But as Trump's stance hardens, more Christian Democrats back repatriation. Economics professor Ulrike Neyer stated, "Due to the Trump administration, the US is no longer a reliable partner." The debate over Germany’s gold continues amid shifting global politics.