Germany plans to repatriate billions in gold from New York, Paris: report [View all]
Source: The Globe and Mail
Germany’s central bank is said to be planning to repatriate thousands of tonnes of gold held at other central banks in a throwback to the Cold War.
The Bundesbank has scheduled a news conference for tomorrow, but there are no details, other than that the meeting with reporters will be about its gold reserves.
But Handelsblatt, a daily German paper, reported that the central bank will bring home some of the 1,500 tons held at the Federal Reserve in New York and more at the Bank of Paris.
... “This move by the Bundesbank may trigger a chain reaction, prompting other countries to start repatriating the gold stored in London, New York or Paris,” said the Montreal-based Centre for Research on Globalization.
Read more: http://www.theglobeandmail.com/report-on-business/top-business-stories/germany-plans-to-repatriate-billions-in-gold-from-new-york-paris-report/article7360909/
= new reply since forum marked as read
