Tag Archive for Bundesbank

Bundesbank Repatriating More Gold

Gold bullion stored at the Bank of England's vaults.

Gold bullion stored at the Bank of England’s vaults.

The German Bundesbank announced today that it repatriated more than 210 tonnes of its gold holdings in 2015. Frankfurt now holds more German gold than New York or London, and the Bundesbank intends to fully repatriate all of its gold holdings from Paris. The Bundesbank bowed to pressure from the public and from government officials who began to doubt whether the foreign gold holdings actually existed, or whether they were being sold or loaned without the government’s knowledge. While the Bundesbank will hold 50% of its gold in Frankfurt by 2020, one wonders why it couldn’t repatriate the entirety of its gold holdings. Is there something the Bundesbank is not telling us that requires them to remain beholden to London and New York?

Image: Bank of England