Germany Repatriating Gold
January 15th, 2013Via: Deutsche Welle:
The “Handelsblatt” newspaper has said Germany’s central bank is planning to deposit more gold reserves at home in Frankfurt. It will reportedly withdraw part of the bullions currently stored at various facilities abroad.
Germany’s business daily “Handelsblatt” reported on Tuesday the Bundesbank was planning to bring home some of its gold reserves that were currently stored abroad. The German central bank’s concept entailed upgrading the domestic storage facility in Frankfurt, the newspaper claimed.
All in all, the Bundesbank oversees gold reserves to the tune of 133 billion euros ($177.5 billion), but only 31 percent are currently deposited at Frankfurt, with the rest spread between facilities of the US Fed, the Bank of England and the Banque de France.
According to the “Handelsblatt”, the Bundesbank is to withdraw part of its reserves from the Fed, while leaving no bullions at all in France.
More (In German): Bundesbank will deutsches Gold zurückholen
