Over 1,200 Tons of Gold! German Lawmaker Calls for Withdrawal from U.S.

Deep News17:45

According to recent German media reports, German legislator Strack-Zimmermann has urged the federal government to repatriate the gold reserves stored in the United States back to Germany. She argued that, amidst heightened global uncertainties and unpredictable U.S. policies, it is no longer reasonable to keep approximately 37% of Germany's gold reserves in New York.

For decades, Germany has stored over 1,200 metric tons of gold reserves in the vaults of the Federal Reserve Bank of New York, located in Manhattan. At current market prices, the total value of this gold amounts to hundreds of billions of euros.

Currently, about half of Germany's gold holdings are stored in vaults within its own financial center, Frankfurt, while another 13% are held in London, the capital of the United Kingdom.

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