The Federal Bank of Germany has brought back the country’s gold reserves in the vaults of the Bank of France in Paris – ingots with a total weight of 91 tons, according to the website of the Bank of Germany, the TV channel “112 Ukraine”.
Thus, the Bank three years before 2020 returned about 700 tons of gold from foreign vaults.
- Russia was the main buyer of gold in the world
As a result of public pressure in 2013, it was decided to increase the size stored in the country’s gold reserves to 50 percent. At the moment, 1710 tons of 3378 tonnes of gold reserves are located in Germany. The remaining gold is distributed between new York (1236 ton) and London (432 tons).
In the case of an emergency crisis, gold can be exchanged for US dollars, which is the most important reserve currency in the world. And London is the main global platform for trading in precious metals.
Early German gold was stored in France, however, all of the stored reserves back to Germany.
- The gold reserves of Ukraine increased by a ton
The Bank assured that each returned from abroad, the ingot was checked for weight and authenticity. No complaints were not. All the gold reserves of Germany at this time is estimated at 120 billion euros.
As previously reported, the government of Canada has sold almost all the gold reserves of the country. At the beginning of March last year, announced the Ministry of Finance of Canada, the reserve was only 77 ounces of gold with total cost of 130 thousand dollars.