– ‘Availability of gold strengthens public confidence in the central bank’s balance sheet’ say Bundesbank
– Bundesbank has Audited Reserves amounting to almost 3,400 tonnes, around 68% of Bundesbank’s reserve assets
– Bank taken series of steps to increase transparency around Germany’s gold holdings
– Germany has second largest gold holdings in the world; U. S. believed to be largest
– Transparency important and all central banks should follow the Bundesbank lead
Editor: Mark O’Byrne
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Germany’s central bank serves as an example to central banks when it comes to respecting gold reserves and the public’s knowledge of them. The Bundesbank has worked incredibly hard in recent years to be transparent in regard to its gold bullion reserves.
The latest edition of Gold Investor from the World Gold Council has a very interesting article written by Carl-Ludwig Thiele, Member of the executive board of the Bundesbank which we bring to you below. In it Thiele outlines the reasoning of the Bundesbank to be open and transparent about the 3,373.6 tonnes of gold that represents nearly 70% of the country’s reserves.
This post was published at Gold Core on December 18, 2017.