Central banks repatriating gold?

[pmbug]

...
An increasing number of countries are repatriating gold reserves as protection against the sort of sanctions imposed by the West on Russia, according to an Invesco survey of central bank and sovereign wealth funds published on Monday.
...
One central bank, quoted anonymously, said: "We did have it (gold) held in London... but now we've transferred it back to own country to hold as a safe haven asset and to keep it safe."

Rod Ringrow, Invesco's head of official institutions, who oversaw the report, said that is a broadly-held view.

"'If it's my gold then I want it in my country' (has) been the mantra we have seen in the last year or so," he said.
...

Countries repatriating gold in wake of sanctions against Russia, study finds

An increasing number of countries are repatriating gold reserves as protection against the sort of sanctions imposed by the West on Russia, according to an Invesco survey of central bank and sovereign wealth funds published on Monday.

www.reuters.com

Been a while since I heard any specific news on this topic...

 

[Viking]

I may have to repatriate some gold.

 

[pmbug]

Gold has hit a new ATH. Efforts to shine a light on central bank repatriations from the Fed vaults have been rebuffed. Romania in the news now wanting their gold back from Russia:

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The gold reserve of the National Bank of Romania, weighing 91.5 tons of fine gold (in coins and ingots), Queen Marie’s jewels, and important historical and cultural valuables were shipped to Russia in two stages, in December 1916 and in August 1917. ...
...
Cognizant of the fact that the issue of its gold reserve seized by the Russians is not known internationally, the National Bank of Romania Board decided to support the initiative to bring it to the fore at the European Parliament. For this purpose, the works authored by Cristian Păunescu, The Romanian National Bank Treasure taken to Moscow and never returned, and Ilie Schipor, Romania’s Treasury and its destiny. Arguments from the Russian Archives, were translated into English and distributed to every MEP. Moreover, on March 5, 2024, the exhibition ‘The gold Treasure of the National Bank of Romania sent to Moscow and never returned — A claim older than a century’, presenting the odyssey of the central bank’s gold, was opened at the European Parliament. ...

The gold treasure of National Bank of Romania that was sent to Moscow

A claim older than a century — the odyssey of the central bank’s ‘evacuated’ gold that was never returned after the First World War.

www.politico.eu

Pictures of the exhibition can be found here:

Banca Naţională a României

 

[nickndfl]

Would you keep your own gold in the hands of the US government or any bank for that matter? I don't think so. If you are on the wrong side of their politics they will confiscate it.

 

[Peter89]

Would you keep your own gold in the hands of the US government or any bank for that matter? I don't think so. If you are on the wrong side of their politics they will confiscate it.

They say the reason for keeping the national gold reserves in NY and London is because they are the major trading hubs, so it'd be easy to sell it if needed.

 

[pmbug]

Thursday, March 14, 2024 - Lawmakers in the European Parliament today adopted a non-binding resolution saying Russia should return to Romania gold and other valuable heritage items that were sent to Moscow during World War I for safekeeping, a Romanian lawmaker said.
...

European Parliament says Russia should return Romania's World War I gold | Gold Anti-Trust Action Committee | Exposing the long-term manipulation of the gold market

gata.org

 

[searcher]

^^^^^^
Normally don't post RT stuff (lotta propaganda) but here's the reply:

EU can ‘f*** off’ with its gold demand – ex-Russian president

The European Parliament has adopted a resolution calling on Moscow to return gold sent by Romania to the Russian Empire in 1916

www.rt.com