German’s central bank repatriated 120 tonnes of gold in 2014, according to statistics released on its website today.
The Bundesbank repatriated 85 tonnes of gold from the Federal Reserve Bank of New York while 35 tonnes were returned from Paris, the figures show.
The figures represent a large increase from the 37 tonnes total repatriated in 2013, where just five tonnes came from New York and 32 tonnes from Paris.
By 2020, the bank hopes that 374 tonnes in total will have been returned from Paris and 300 tonnes from New York, meaning that 517 tonnes are still to be repatriated.
As of December 31, the Bundesbank holds 1,192 tonnes of gold in Frankfurt, 1,447 tonnes in New York, 438 tonnes at the Bank of England and 307 tonnes at the Banque de France in Paris.
With 3,384.20 tonnes of gold, Germany is the second-largest holder of the metal in the world – the metal accounts for 66.4 percent of its total reserves, according to data from the World Gold Council.
(Editing by Mark Shaw)
The post Bundesbank repatriates 120 tns of gold in 2014 appeared first on The Bullion Desk.
No comments:
Post a Comment