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No ‘gold rush’: Germany keeps reserves in the US

Posted on 08 July 2014

Germany’s plan to bring back the nation’s gold reserves to Frankfurt by 2020 has fizzled, and instead has for now decided to leave $635 billion of gold in US vaults. Home to the world’s second largest gold reserves, worth $141 billion, Germany only keeps about one third of its gold ‘at home’, the rest is abroad.
45 percent is in the US Federal Reserve in New York, 13 percent in London, 11 percent in Paris, and only 31 percent in the Bundesbank in Frankfurt. “The Americans are taking good care of our gold, we have no reasons for mistrust,” Nobert Barthle, the German Parliament Budget spokesman, told RT……………………………………..Full Article: Source


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