Source: RT – Germany to repatriate gold from US, France
Notable excerpts:
Germany’s Bundesbank plans to store half the national gold reserves in its own vaults by 2020. It will mean the return of 700 tons of the precious metal from the US and France.
Source: Austrian Times – Call to bring Austrian gold back home from the UK
Notable excerpts:
There is heated debate in Austria after it was revealed that the country’s National bank (OeNB) is storing its gold reserves in England.
In response to a parliamentary question the bank said that 224. 4 tonnes (around 80%) of Austrian gold reserves were in the United Kingdom, around 6.9 tonnes (around 3%) are in Switzerland and around 48.7 tonnes (around 17%) are in Austria itself.
Source: Sprott Asset Management – Do Western Central Banks Have Any Gold Left?
By: Eric Sprott
Recent dramatic declines in gold prices and strong redemptions from physical ETFs (such as the GLD) have been interpreted by the financial press as indicating the end of the gold bull market. Conversely, our analysis of the supply and demand dynamics underlying the gold market does not support this interpretation. Many major buyers of gold are adding to their stocks, while at the same time supply is flat or even decreasing, compounding an already vast imbalance.
Source: Fox Business – Switzerland to Hold Referendum on Gold Reserve Policy
Notable excerpts:
The initiative from the Swiss Peoples Party, or SVP, to prevent the Swiss National Bank from selling any of its gold reserves and force it to hold at least 20% of its assets in the precious metal, has now gathered the required 100,000 signatures necessary for a national referendum, the government said Thursday.
Source: Washington Post – Texas wants its gold back! Wait, what?
Notable excerpts:
Perry and some in the Texas legislature want to bring the roughly $1 billion worth gold held by the state university system’s investment fund onto Texas soil, rather than in its current resting pace in a vault in New York.
“If we own it,” Perry said on Glenn Beck’s radio show last week, according to the Texas Tribune. “I will suggest to you that that’s not someone else’s determination whether we can take possession of it back or not.”
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