Germany, the world's 2nd largest holder of gold reserves,
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:
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.
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:
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