Bundesbank moves 20% of gold reserves back to Germany

bundesbank

The Deutsche Bundesbank has finalised the transfer of 20% of its gold reserves from the Banque de France in Paris and the New York Fed to its vaults in Frankfurt. The process has been completed more than three years ahead of schedule, the Bundesbank says.

The central bank announced its plan to store half of Germany’s gold reserves in Frankfurt by 2020. The Bundesbank no longer has gold reserves in Paris. As Germany and France share the euro, Berlin does not need to store gold in Paris to

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