Bundesbank “Reassures” Re. Gold Bullion Reserves as Deutsche Bank Shocks With €6 Billion Loss Warning
By: GoldCore
GoldSeek.com
Thursday, 8 October 2015
The German Bundesbank released an inventory of its gold reserves yesterday in order to quell ongoing public concerns about the true amount of actual unencumbered reserves and the location of the reserves stored in vaults in Frankfurt, London, Paris and particularly in the New York Federal Reserve.
The central bank said its gold reserves amount to 3,384 tonnes of gold worth just €107 billion at today’s prices.
The move is the latest by the central bank, which is in the process of trying to move its gold reserves back to Germany after the eurozone sovereign debt crisis broke out in 2012 and led to public concerns and questions about the safety of Germany’s gold reserves.
Germany’s gold reserves are the second biggest in the world after those of the U.S. but Germany has been struggling to repatriate its gold reserves from the U.S. Federal Reserve in recent years. This has created wider concerns about the U.S. own gold reserves.
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