Germany is the owner of the second largest central bank gold hoard, much of it held at the New York Federal Reserve.

The majority of Germany's gold is held abroad. The Bundesbank plan is to repatriate gold in sufficient amounts to have at least half of their gold in Germany by 2020. 

Germany and other countries repatriating their gold are emptying the New York Federal Reserve's vault.

According to the World Gold Council Germany has 3,384.2 tons of gold, the second largest central bank gold holdings*. 

Until recently, Germany stored 69% of its gold abroad in London, Paris and New York. By 2020 the German Bundesbank claims they will have half of their gold in Germany, 37% at the New York Federal Reserve and 13% in London at the Bank of England.