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Bundesbank: German Gold is back home

Maybe it will soon calm a controversial issue in the precious metals sector: The Federal Bank has informed that in the meantime the German gold reserves were completely brought home from the US with 300 tons of gold.

With a final tranche amounting to 111 tons, the mammoth logistical operation was completed last year. From France a further 105 tons of gold were returned to Germany. Carl-Ludwig Thiele, member of the German Federal Bank announced that the “gold relocations” from New York were successfully completed. The project is running smoothly,according to the Bundesbank, examinations of the German gold had not yielded any complaints.

According to its own account, the Federal Bank has ensured that the bars taken from the foreign deposits up until their storage in Frankfurt are indeed the German gold bars. All relocated gold bars were subjected to a full reception inspection and authentication – without any irregularities. With a list that will soon be publicly accessible, the Federal Bank will ensure additional transparency. Included are details of each individual German gold bar.

 

 

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Sebastian Wieschowski