Fun fact, France did exactly the same earlier this year (though the trend has been there for decades).
[1] https://en.wikipedia.org/wiki/Gold_repatriation#France
There were discussions in Germany to do the same, but I don’t think they followed up on it
France made an even a smarter move as it sold its reserves in the US and bought higher purity gold locally.
There were discussions in Germany to do the same, but I don’t think they followed up on it