In 2012 the Bundesbank found itself at the center of a storm when the German Federal Court of Auditors called on the central bank to physically take stock of its gold holdings outside the country as they had never been assessed. The Bundesbank opted not to accede to the auditors' request and do a stock take on its gold, noting that there were "no doubts about the integrity, reputation and safety of these foreign depositories."

This response proved to be ill-judged as it only served to fuel speculation over the safety of German gold and even questions about whether it exists at all.

In response to the backlash, the Bundesbank announced in January 2013 that they would begin repatriating gold from vaults in Paris and New York. A year later there was another change of heart following the federal election which resulted in the Free Democratic Party, which was in favor of full repatriation, being dropped from Angela Merkel's government.