German gold returns home: How populism is influencing monetary policy
By GCRU Gold News on Monday, February 13 2017, 04:53 - Permalink
After spending decades abroad during the Cold War, Germany’s gold is coming home in an effort to build public “trust and confidence,” the German central bank said.
On Thursday, Germany completed the transfer of $13 billion in gold reserves from New York to Frankfurt, the Bundesbank announced on Thursday. The transfer is one step in a plan developed by Germany’s central bank in 2013 that aims to repatriate half the gold reserves it keeps abroad. The final transfer is expected from Paris later this year, completing the project three years ahead of schedule.