We won't know until Wednesday how much of its gold Germany will repatriate. But, as you can see from the following infographic, this move could affect a very large quantity:The German Bundesbank is developing a new approach as to where its gold will be stored. According to exclusive information, to be fully announced on Wednesday, the bank will in the future hold less gold in the New York Fed, and no more hold in Paris (Banque de France). As a result, the distribution of German gold, of which 45% is held in New York, 13% in London, 11% in Paris and 31% in Frankfurt, is about to change.
Monday, January 14, 2013
Leery Germany Repatriating Gold From U.S.
threatened to repatriate its gold held by the Federal Reserve after America's central bank refused an audit of its holdings last fall. Today, Germany has announced that it will begin collecting some its gold held here as well as some of its gold held by other central banks. Here is the Google translation of the key paragraph from the announcement: