Italy Gold Reserve Ownership Dispute: Could It Lead to a Sale?

Wednesday Dec 3 2025 00:00

Duration

2 min

  1. 1. Dispute over Italian Gold Ownership Raises Concerns of Potential Sale

  2. 1.1 A Controversial Proposal

  3. 1.2 Fears of Reserve Sale

  4. 1.3 Opposition Criticism

Dispute over Italian Gold Ownership Raises Concerns of Potential Sale

A heated debate is unfolding in Italy regarding the ownership of the country's substantial gold reserves, with right-wing parliamentarians led by Giorgia Meloni pushing to declare them the property of the Italian people. This proposal is raising concerns among some that it could pave the way for a sale of some of those reserves. Italy holds the world's third-largest gold reserves, with approximately 2,452 tons, currently valued at around €285 billion. The Bank of Italy holds these reserves as part of its official foreign exchange reserves, asserting that they enhance confidence in the Italian financial system and the stability of the Euro.

A Controversial Proposal

Members of Meloni's Brothers of Italy party are seeking to include a clause in the upcoming budget stipulating that the gold reserves managed by the Bank of Italy belong to the Italian people. Lucio Malan, the party's chief whip in the Senate, argues that this declaration is necessary because the gold is the product of the labor of the Italian people. The issue stems from a restructuring of the central bank a decade ago, when financial institutions, including private banks, became nominal shareholders in the central bank. Brothers of Italy has repeatedly sought legislation clarifying that the gold is state property, but these efforts have been unsuccessful.

Fears of Reserve Sale

Economists have voiced concerns that this amendment could make it easier for the government to sell gold to pay off debt or fund social services. Salvatore Rossi, the former Director General of the Bank of Italy, has warned that reducing gold reserves to manage public finances sends a negative message to the world. While Malan asserts that there is no intention to sell the gold, he views defining public ownership as a matter of principle. Claudio Borghi, also on the right wing, argues that clarifying gold ownership is necessary due to the central bank's ownership structure.

Opposition Criticism

The opposition accuses Brothers of Italy of reviving this issue to distract from pressing economic problems facing the country. The debate continues, and it remains to be seen how this issue will affect the future of Italy's gold reserves and the national economy.

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Written by:

Emma Rose

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