Germany, Italy Face Pressure to Repatriate $245 Billion in US-Held Gold

Authored by GoldFix, ZH Edit

FRANKFURT/ROME — Recall back in April of this year when GoldFix raised reader awareness by breaking the news that Germany had a nascent but growing movement to repatriate its Gold from the US. Of chief importance was the longstanding assumption that Germany's gold reserves were safe in New York is no longer taken for granted. Political shifts in Washington, public calls for increased transparency, and broader concerns about U.S. reserve integrity are prompting parts of Berlin's political establishment to reassess the wisdom of maintaining large-scale gold holdings abroad. Turns out this is now a growing risk to global bullion markets spreading both internally in Germany and externally into Italy.