Global repatriation and the Fed's gold vault


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This means that after 177 tons of gold were withdrawn in 2014 - the largest year of gold redemptions since 2008 when 230 tons of gold departed the NY Fed vault - another 30 tons of parked gold has been recalled to their native lands so far in 2015.

This also means that for the first time in the 21st century the total gold tonnage held at the NY Fed is now under 6000 tons, or 5,989.5 to be precise.

But most importantly it means that all of the 207 tons in Dutch and German withdrawals are now accounted for with a matched and offsetting "departure" at the Fed. Which is why the next monthly update of the Fed's earmarked gold will be especially interesting: if March data shows that the withdrawals continue, it will mean that either Germany, or some other sovereign, has continued to redeem their gold which for some reason they no longer trust is safe lying nearly 100 feet below street level on the Manhattan bedrock.

They see the writing on the wall. No sane person would allow someone else to have custody of their gold, with the implicit understanding that the custodian can and will re-sell it to someone else if they think they can skim off a nice vig in the process.
... we now have the March data, and we can officially confirm that the gold redemptions from the world's (allegedly) largest gold vault have continued, and another 10 tons of gold was put on a ship (or plane) in March in an unknown direction.

As a result, total earmarked gold at the NY Fed is now down to 5,979.2 tons, a level not seen in the current century.

... the total expected gold redemptions by Germany and the Netherlands amounted to 207 tons. Thus, the March redemption means that either Germany is continuing to pull its gold, some 10 tons at a time, or some other central bank has joined the parade of gold repatriators.

Does this surprise anyone here?
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