Securing Access to Gold

After we had to report a few days ago that Venezuela is being denied access to its own 31 metric tons of gold reserves stored in the United Kingdom, other countries have apparently also realized that, in times of crisis, it is best to retain access to one’s own assets as much as possible.

In any case, over the past six months, the Dutch central bank has transferred a total of 86 metric tons of its gold reserves from New York and Ottawa to London. However, the majority — over 70 percent — remains stored in North America. According to the Dutch government, trading the precious metal in Europe is easier and safer.

The Netherlands holds a total of 612.4 metric tons of gold. Germany’s gold reserves are also distributed across various locations. Of the total 3,350 metric tons, 51 percent is held in Frankfurt am Main, 12 percent in London, and 37 percent in the vaults of the regional Federal Reserve Bank in New York. There has already been repeated speculation about measures to repatriate the gold from the U.S. during a Trump administration.

Read more https://www.manager-magazin.de/unternehmen/banken/gold-niederlaendische-zentralbank-bringt-86-tonnen-gold-zur-bank-of-england-a-9909d744-5339-4972-84c1-ea0987d68ff9

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