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Tuesday March 24, 2014 4:30 PM New York - ( Kitco News) - Since Germany's central bank announced it would be repatriating some of its gold reserves from New York and Paris, a host of theories have circulated, speculating on why the decision was made. Two years later, the Deutsche Bundesbank still remains firm that there is nothing odd about it.
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By 2020, Germany wants 50% of its total gold reserves back in Frankfurt - including 300 tons from the Federal Reserve. The Bundesbank's announcement comes just three months after the Fed refused to submit to an audit of its holdings on Germany's behalf. One cannot help but wonder if the refusal triggered the demand.
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2. We still are not fully happy with the repatriation process in general for three reasons: speed, transparency and volume. 3. Speed: Average repat tonnages for 2013 and 2014 now stand at 78 tonnes per year. In order to repatriate all German gold abroad (2,400 tonnes), Bundesbank would still take more than 30 years!
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This is about 23% of the total 674 tons to be transferred. Germany is not alone in this desire to bring its gold reserves back home: Venezuela, The Netherlands, France, Belgium, Switzerland, and Austria have also carried out or proposed efforts to repatriate their gold. You may be wondering.why? Why bring the gold home? And why now?
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Germany's efforts to repatriate its gold holdings are officially claimed to be a reflection of changing geo-strategic realities. Other indicators show a general trend of central banks acquiring gold.
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This week, news came out that Germany's Bundesbank will indeed repatriate its gold to restore public confidence in the safety of Germany's reserves. It will retrieve all 374 tons of the bullion it currently keeps in Paris and 300 tons currently stored at the New York Federal Reserve Bank.
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A four-year plan to repatriate 674 tonnes of German gold held at the Banque de France and the Federal Reserve of New York was completed in 2017. Yet these facts and figures indicating strong gold buy-in are incongruous with a new German law that severely limits the anonymity of citizens' gold purchases.
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The current repatriation involves moving 300 tons from New York and 374 tons from Paris. The Bundesbank said it is not worried about keeping gold in England despite Brexit, as London remains a key gold trading market and a safe place. Germany has the second-largest gold reserves in the world after the US with 3,381 tons.
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Germany has completed the transfer of $13 billion in gold reserves from New York to Frankfurt. 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.
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The Bundesbank today announced plans to repatriate almost 700 tonnes of gold now held by other central banks in New York and Paris by 2020. "With this new storage plan, the Bundesbank is focusing ...
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Germany has announced that it's going to repatriate 374 metric tons of its gold that it has stored with the Federal Reserve in New York City. While Germany claims that it will continue leave 1200 tons of gold in the United States, this might actually be the start of a full removal of its gold and its return to Germany. In fact, Germany also announced a full repatriation of all 374 metric ...
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January 15, 2013, 10:42 AM BERLIN (AP) -- Germany's central bank will repatriate some of its massive gold reserves stored in vaults in the United States and in France, a business daily reported...
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Since Germany sought to repatriate its gold holdings in 2013 there have been a number of countries following suit. This of course is in addition to central banks ramping up their purchases that saw last year hit an all time high and this year on track to rival that. For some analysts this move by nations to bolster their gold reserves speaks ...
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Germany's plan to bring its $635 billion worth of gold bullion reserves back was abandoned by the German authorities. "The Americans are taking good care of our gold, we have no reasons for mistrust," Nobert Barthle, the German Parliament Budget spokesman said as quoted by RT.
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German Chancellor Angela Merkel stated today that Germany would leave its 1,500 tonnes of gold in the Federal Reserve vault in NYC for continued safekeeping. Proponents for repatriation of German gold were outraged that Frau Merkel would double-cross them after initially agreeing to have at least 674 tonnes of gold repatriated.
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The history behind Germany's decision to repatriate bullion... THE WORLD'S second largest gold-holding nation is recalling some of its gold.The Germans are bringing the physical metal - once on hold outside its borders - back in country, writes Byron King for Bill Bonner's Daily Reckoning. This is a huge development in the world gold market.
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Germany repatriates gold stashed abroad during cold war Bundesbank ships back 53,780 gold bars from vaults of NY Fed and French central bank The Bundesbank said it 'thoroughly and exhaustively'...
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The central bank of Germany, BuBa, has just released the numbers of their gold repatriation activities in 2014. More than expected the Germans shipped home 85 tonnes of gold from the Federal Reserve Bank of New York (FRBNY), previously BuBa hinted at withdrawing 30 to 50 tonnes from New York in 2014, from France 35 tonnes were returned.
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. the gold community paid great attention to the decision of the German Bundesbank to "bring German gold home". At the beginning of 2013, the Bundesbank announced it would repatriate 300 tonnes of gold stored in the US by 2020. It is well behind schedule, citing logistical difficulties.
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Several months after it was revealed that Germany was able to only recover a miserable 5 tons of its gold in all of 2013 (under 10% of the 84 tons it was scheduled to repatriate), Germany appears to have given up entirely in its attempt to recover gold which simply is not there, and as Michael Krieger reports, citing Bloomberg, has decided to keep "it" (by "it" we don't mean the gold since ...
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The date of publication was aligned with the end of the project to repatriate the bulk of Germany's gold from the central bank vaults in Paris, New York and London. Although the book's primary focus is on Germany's gold reserves, its scope is much more wide-ranging, covering gold's history as a monetary metal and a reserve asset.
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Far-Right MP Elected Head of Germany's Powerful Budget Committee. By Guy Chazan Financial Times, London Wednesday, January 31, 2018. ... Germany's central bank, to repatriate the country's gold holdings. The Bundesbank has since moved about half of its gold back from New York, London, and Paris to Frankfurt -- but has repeatedly denied this was ...
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The history behind Germany's decision to repatriate bullion... THE WORLD'S second largest gold-holding nation is recalling some of its gold. The Germans are bringing the physical metal - once on hold outside its borders - back in country, writes Byron King for Bill Bonner's Daily Reckoning. This is a huge development in the world gold market.
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Germany announced this week that it's planning to repatriate much of the gold that its been keeping in reserves in the U.S. and France.
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Guarded well out of Moscow's reach in safe havens like New York, London and Paris, the 3,378-tonne, 140 billion-euro gold stockpile had been a symbol of Germany's ascent, insulating the ...
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Feb 14, 2017An official announcement last week that the Bundesbank had pretty much repatriated half its gold reserves ahead of schedule has once again sent the rumor mill into overdrive. Fans of the precious...
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A large part of the German gold is held in foreign banks, primarily in New York and Paris. At the beginning of this year the Bundesbank said it intended to repatriate 700 tons of gold worth 27 billion euro by 2020. Once completed, a half of the Federal republic's gold reserves, or about 3,400 tons will be stored within the country.
Get priceFeb 11, 2017The 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 ...
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Since the launch of the Eurosystem Germany has been repatriating gold. Currently, Germany has 1,698 tonnes (50%) stored on its own soil, 1,236 tonnes (37%) stored in the U.S., and 432 tonnes (13%) in the U.K. Officially, Germany has the second largest gold reserves in the world at 3,366 tonnes. Exhibit 1. Introduction
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Germany's gold repatriation program, whereby the nation's central bank is recalling 674 metric tons from vaults in New York and Paris, is progressing slowly. About 69 tons have returned to ...
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German gold repatriation ahead of schedule Germany's central bank has sped up the process of bringing its gold home from foreign vaults, moving more than 200 tons from New York and Paris in 2016...
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(Newser) - Germany has completed an effort to bring home 300 metric tons of gold stashed in the United States, part of a plan to repatriate gold bars kept abroad during the Cold War, the AP reports.
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Jan 17, 2013Two-thirds of Germany's gold reserves is stored in Paris, London and New York. The German central bank, responding to a public outcry over accountability, is going to repatriate some of the gold.
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After World War II both West Germany and East Germany were obliged to pay war reparations to the Allied governments, according to the Potsdam Conference.First provisionally but later finally, Germany ceded a quarter of its territory as defined by its 1937 borders to Poland and the Soviet Union. Other Axis nations were obliged to pay war reparations according to the Paris Peace Treaties, 1947.
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In recent years we have seen the likes of Germany, Austria, Belgium, Venezuela, and the Netherlands each repatriate their gold from various locations. Hungarian National Bank is set to repatriate 100,000 ounces of gold from England. The pace does appear to have been picking up since Venezuela decided to repatriate its 180 tonnes of gold in 2011.
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Apr 12, 2016Germany's repatriation request involved a total of 674 tons of their 3,384 tons of gold. The Fed notified Germany that their request would be honored and that the gold would be shipped from the...
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In a secret operation that took five years to complete, Germany's central bank moved 374 metric tons of gold, worth around $15 billion, out of vaults in Paris. The final batch of 91 metric tons was...
Get price. the gold community paid great attention to the decision of the German Bundesbank to "bring German gold home". At the beginning of 2013, the Bundesbank announced it would repatriate 300 tonnes of gold stored in the US by 2020. It is well behind schedule, citing logistical difficulties.
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The repatriation of even a part of Germany's central bank gold holdings, especially if followed by other nations such as Holland, should be regarded with concern. Today, no central bank would ...
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In January 2013, Deutsche Bundesbank, the German central bank, announced plans to repatriate 300 tons of its 1,500 tonne reserve from the U.S., and 374 tons from France by 2020, in order to store (1,695.3 tons) of its official gold reserves in Frankfurt. [4] [5] [6]
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