20 Jan 2015
Germany repatriated 120 tonnes of gold in 2014 - Deutsche Bundesbank
FXStreet (Mumbai) - Deutsche Bundesbank said on Monday it had accelerated its bullion repatriation scheme last year, bringing back German gold from Paris and New York.
The German central bank said it “stepped up” its bullion transfers during 2014, bringing 35 tonnes of its gold from Paris and another 85 tonnes from New York. The repatriation scheme is the country’s effort to bring 674 tonnes, or half of Germany’s total stocks, back to Frankfurt by the end of the decade.
“Implementation of our new gold storage plan is proceeding smoothly. Operations are running very much according to schedule," Carl-Ludwig Thiele, member of the Executive Board of the Deutsche Bundesbank said in a statement.
The German central bank said it “stepped up” its bullion transfers during 2014, bringing 35 tonnes of its gold from Paris and another 85 tonnes from New York. The repatriation scheme is the country’s effort to bring 674 tonnes, or half of Germany’s total stocks, back to Frankfurt by the end of the decade.
“Implementation of our new gold storage plan is proceeding smoothly. Operations are running very much according to schedule," Carl-Ludwig Thiele, member of the Executive Board of the Deutsche Bundesbank said in a statement.