The European Central Bank is requesting the Italian government to reconsider the proposal to use gold reserves.

The European Central Bank has requested Italy to reconsider its proposal to declare the national gold reserves as the property of the Italian people, a move that could ultimately lead to the government selling part of its gold reserves. The European Central Bank stated in an opinion document: "It is suggested that Italian authorities reconsider the terms of the draft law, while focusing on maintaining the independence of the Italian bank to fulfill its basic responsibilities within the European Central Bank system." According to data from the Bank of Italy, Italy holds approximately 2,452 tons of gold, ranking third globally after the United States and Germany. With the price of gold continuing to rise, members of the center-right party led by Italian Prime Minister Meloni have proposed an amendment in the upcoming budget to confirm that the gold reserves are managed and held by the Italian bank, but also adding that they "belong to the Italian people." The European Central Bank pointed out: "The specific purpose of this draft law provision is not yet clear."