(Lucas: Show me the gold!!! I am sure you will not be allowed to see it nor test it. It isn’t there anymore how should they repatriate it!?)
Germany’s Bundesbank plans to store half the national gold reserves in its own vaults by 2020. It will mean the return of 700 tons of the precious metal from the US and France
This year the Bundesbank got back about 37 tons of gold from the US and France. The total value of the returned gold is estimated at 1.1 billion euro, the head of Bundesbank, Jens Weidemann told the Bild newspaper.
Weidemann explained it is part of a program to increase the reserves held in Frankfurt, and there was no doubt on the security of the gold held in America and France.