Germany’s central bank completed its plan to repatriate the country’s gold reserves from New York and Paris, three years ahead of schedule. Initially expected to take until 2020, the plan involved returning 374 tons of gold from Paris, and 300 tons from New York. But for Vince Lanci, editor for marketslant.com and the founder of Echobay Partners, the timelines do not add up.
“You are dealing with something heavy that has to be moved so it does take time, but you don’t need seven years to move that much gold,” explained Lanci. Frankfurt now holds just over half of Germany’s total 3,378 tons of gold reserves, with 36.6% left in New York and 12.8% in London.
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