Loading ...Breaking: Austria Considers Repatriating Its Gold
Tyler Durden’s pictureSubmitted by Tyler Durden on 12/12/2014 12:11 -0500
And just like that, the list of countries who want to repatriate their gold just increased by one more, because after Venezuela, Germany, the Netherlands, sorry Switzerland, and rumors of Belgium, we now can add Austria to those nations for whom the “6000 year old barbarous relic bubble” is more than just “tradition.”
From Bloomberg:
Austrian Central Bank Mulls Relocating London Gold: Standard
The Austrian state audit court says central bank should address concentration risk of storing 80% of its gold reserves with the Bank of England, Standard reports, citing draft audit report. Court advises central bank to diversify storage locations, contract partners.
Austrian central bank reviewing gold storage concept, doesn’t rule out relocating some of its gold from London to Austria: Standard cites unidentified central ank officials. Austria has 280 tons gold reserves, according to 2013 annual report. Austrian Audit Court Will Review Nation’s Gold Reserves in U.K.
more http://www.zerohedge.com/news/2014-12-12/breaking-austria-considers-repatriating-its-physical-gold