Gold repatriation

There has been a lot of publicity about central banks having bought substantial amounts of gold in 2018, in total 651 tonnes which is the highest in 50 years. In relation to this gold story about central banks, it is not that they bought gold which is the real news. The important point is who bought the gold.

Romania may be set to join a wave of countries moving their gold home from vaults abroad after the nation’s de facto leader started a push to relocate 61 tons of the reserves, worth about $2.4 billion, from the U.K.

Just hours after The Bank of England refused to hand over $1.2 billion of Venezuela's gold from its custody vaults to President Maduro, The Guardian reports that a UK foreign office minister is now urging the same Bank of England to transfer the bullion to the self-proclaimed interim leader Juan Guaidó.

Venezuela’s gold holdings in the Bank of England have jumped after it closed out a gold swap deal with Deutsche Bank, according to two sources, as Britain remains reluctant to release gold held for the troubled OPEC nation.

In this interview, Max Keiser and Egon von Greyerz discuss gold and several hot topics that will have major influence on the world economy in coming years.

Hungary’s central bank increased its gold reserves 10-fold, citing the need to improve its holdings’ safety, joining regional peers with relatively high ownership in the European Union’s east.

As Dennis Gartman summarized in his Friday letter to clients, "at the current pace of sales, Venezuela will effectively be out of gold by May or June of next year. Having fallen from $21.3 billion seven years ago, it’s now down to $6.6 billion as of the end of January and we suspect that it’s sold another billion since then."

A Bundesbank exhibit pays tribute to Germans' deep-seated love of the precious metal while honoring postwar economic prowess.

Amid the current events, it would be wrong to see the information that the Turkish Central Bank has repatriated its gold reserves stored earlier in the US Federal Reserve System as a mere coincidence.

The leadership of the Hungarian National Bank (MNB) has decided to bring back home Hungary’s gold reserves.